Changpeng Zhao’s YZi Labs has increased its investment in Ethena, the issuer behind the USDe stablecoin. The capital infusion is aimed at driving USDe adoption across both decentralized and centralized platforms, while supporting Ethena’s broader stablecoin strategy.
Ethena is also working on USDtb, a new stablecoin, along with Converge, an institutional settlement layer. YZi Labs said the investment reflects its long-term confidence in stablecoin growth and its role in reshaping global payments.
Ethena has emerged as one of the fastest-growing players in the synthetic dollar space, and the partnership is expected to accelerate expansion across ecosystems like BNB Chain.
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