YZi Labs has increased its investment in Ethena Labs, the creator of USDe, now the third-largest dollar-denominated crypto asset. This move is aimed at promoting wider adoption of USDe across both centralized exchanges and decentralized finance (DeFi) platforms, furthering growth on the BNB Chain, and developing new products like USDtb, a fiat-backed stablecoin, and Converge, an institutional settlement layer. YZi Labs, previously known as Binance Labs, initially invested in Ethena during its Season 6 Incubation Program in February 2024, before USDe's public launch. Since then, USDe has rapidly grown to over $13 billion in supply and its total value locked (TVL) has exceeded $13 billion, with significant integrations across various DeFi applications. Ethena is bolstering its presence on BNB Chain and designing upcoming products such as USDtb for regulatory compliance and Converge, which aims to tokenize real-world assets with partnerships including Securitize and BlackRock. This renewed commitment marks an important phase for Ethena’s growth strategy in the expanding stablecoin landscape.

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