YZi Labs has increased its stake in Ethena, the stablecoin issuer behind USDe, to assist in the digital dollar’s adoption across decentralized and centralized platforms. The investment will support USDtb and Converge while aligning with YZi’s mission for efficient digital dollar infrastructures. Ethena’s CEO sees USDe’s distribution vision becoming a reality.

The US Treasury estimated the stablecoin market to grow to $2 trillion by 2028. USDe, backed mainly by cryptocurrencies, has already reached a $14 billion market cap since its launch. YZi’s investment in Ethena aims to expand USDe’s use cases on BNB Chain and disrupt the dominance of USDT and USDC.

YZi Labs, managing $10 billion in assets, has promoted Hyperliquid competitor Aster, integrating USDe into its ecosystem. Ethena has also gained investments from trillion-dollar asset management firms and crypto VC firm DragonFly. The stablecoin issuer’s expansion and partnerships are paving the way for broader adoption in the crypto ecosystem.

Read more at Cointelegraph: YZi Labs Deepens Stake in Stablecoin Issuer Ethena