Ethena partners with Binance to expand the USDe basis trading strategy to stock perpetual contracts

Ethena announced a collaboration with Binance to expand its basis trading strategy for USDe reserve assets into equity perpetual contracts for the first time, with related capital allocations beginning today. Under the partnership framework, bStocks will serve as tokenized spot collateral, hedged via USDT-denominated equity perpetual contracts on Binance, continuing to apply Ethena’s delta-neutral strategy previously used for crypto assets. According to Ethena, this move expands its underlying collateral market from approximately $2.5 trillion in crypto assets to over $150 trillion in real-world assets.