Ethena Adds $1 Billion FalconX Lending Facility for USDe Backing Assets

Ethena is expanding the sources of returns on assets backing USDe through a secured institutional lending facility with digital-asset prime broker FalconX, offering an alternative to perpetual futures funding rates.

The facility, with a capacity of up to $1 billion, will deploy USDe backing assets into overcollateralized loans used for trading strategies, corporate treasury management, and payments.

FalconX will originate and service the loans and manage the associated collateral. Qualified third-party custodians will hold the collateral, while Ethena will maintain a first-priority security interest over the facility’s assets. 

Source: CoinDesk