Ethena says its USDe synthetic dollar supply grew by more than $700 million in September

Beyond the supply increase, Ethena launched the EthenaPay beta in early September and partnered with Binance as its first venue for extending the basis trade into equity perpetuals. Standard Chartered began research coverage, forecasting roughly 8x USDe growth over two years. USDe became the second largest collateral asset and largest dollar collateral on Morpho, backing two of its three largest markets, and rewards went live on Aave V4 and via Binance Wallet. Ethena completed a SOC 2 Type II audit with zero exceptions, announced zero future token incentives or inflation for USDe, and launched USDe on TRON.

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