Ethena Labs has teamed up with institutional OTC desk Flowdesk to expand access to its stablecoins USDe and USDtb. The partnership comes as USDe surpassed $14 billion in market cap, making it the world’s third-largest stablecoin.
Flowdesk will support trading services and reward programs for Ethena’s tokens, enhancing liquidity and accessibility for institutional players. The collaboration highlights the rapid growth of Ethena’s ecosystem, driven by strong demand for synthetic dollars in both centralized and decentralized finance.
Market analysts say the surge reflects increasing interest in alternatives to traditional stablecoins, with Ethena positioning itself as a serious competitor.
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