YZi Labs Injects Capital Into Ethena, Propels Stablecoin Adoption and Innovation

- YZi Labs boosts investment in Ethena, driving USDe adoption and new USDtb development. - Support for blockchain-based settlement aims to reshape institutional finance. On September 21, 2025, Cointelegraph reported that YZi Labs, led by Changpeng Zhao, has deepened its investment in Ethena, the issuer of the USDe stablecoin. This move will accelerate USDe's adoption on major platforms, with a specific focus on integration within the BNB Chain. In addition, the expanded partnership aims to advance two pivotal initiatives: creating a treasury-backed stablecoin (USDtb) and launching “Converge,” an institutional settlement platform compatible with the Ethereum Virtual Machine. Short-duration treasury assets, including allocations to BlackRock’s BUIDL fund, will secure the upcoming USDtb stablecoin and provide robust collateral for Ethena’s financial ecosystem. Meanwhile, Ethena designed Converge as an institutional-grade blockchain settlement platform to support the tokenization of real-world assets. This design aligns with growing institutional interest in decentralized financial systems, while these projects underscore Ethena’s vision to bridge traditional finance and blockchain technology and answer market demand for reliable, scalable infrastructure. This development builds upon YZi Labs’ initial investment in Ethena in February 2024. The renewed commitment aligns with YZi’s mission to create scalable digital dollar solutions that enhance liquidity and efficiency across the global financial system. Ethena Labs CEO Guy Young emphasized the growing significance of embedding stable, yield-generating financial instruments into decentralized ecosystems, noting the rapid acceleration of USDe adoption across exchanges and DeFi platforms. His remarks highlight the tangible shift from conceptualization to execution within the sector. According to CoinMarketCap on September 21, USDe maintained a trading price of $1.001 as of 02:08 UTC. This price reflects a 0.025% dip in 24-hour trading volume.