MEXC Ventures announces $36 million investment in Ethena and its stablecoin USDe

PANews March 12th news, according to CoinDesk, MEXC Ventures, the investment arm of crypto exchange MEXC, will invest a total of US$36 million in Ethena and its USDe stablecoins. The company is making a strategic investment of $16 million in Ethena and purchasing a USD valued at $20 million USDe stablecoin to expand the application of synthetic dollars in DeFi and provide an alternative to fiat-backed stablecoins, the statement said.

"As the demand for investment in Bitcoin and other digital assets continues to rise, stablecoins will attract more investment. MEXC sees Ethena as a key player in developing diversified stablecoins, which will drive the crypto industry forward, support wider adoption and provide users with more stable and efficient financial solutions."