The synthetic dollar protocol Ethena has revealed a bold move towards transforming how its platform operates.
According to their latest update, the project’s Risk Committee has launched an advanced Eligible Asset Framework to ensure broad asset inclusion.
The new framework aims to expand the available assets that individuals can use as collateral backing the USDe stablecoin.
The update has debuted with Binance Coin as the first eligible token. The team announced:
As part of the new framework, BNB has been approved as the first new eligible asset backing USDe.
The Ethena Risk Committee have established the Eligible Asset Framework, which represents a new approach to widening approved backing assets specifically for the perpetual futures portion of the collateral backing of USDe.
As part of the new framework, BNB has been approved as
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That diversifies the currencies backing USDe, while highlighting Ethena’s commitment to building a flexible and resilient system for its synthetic dollar.
USDe has seen remarkable performance in the past months, hitting key growth milestones.
The stablecoin has elevated Ethena’s appeal as the network dominates the yield-bearing sector.
Ethena’s new stablecoin framework
Stablecoin has topped charts this year, especially after the friendly regulations in the United States.
However, the segment is witnessing notable shifts.
While giants like Tether and Circle’s USDC have dominated the stablecoin market in the past, yield-bearing options gain traction as individuals seek passive income from their idle tokens.
Such shifts have contributed to Ethena’s steady growth in 2025.
While stablecoins remain the cornerstone of the digital currency market, their stability often depends on the backing assets.
The crypto space has seen multiple cases of stablecoins losing their pegs.
Meanwhile, Ethena’s USDe promises unwavering stability through a distinct approach that relies massively on perpetual futures contracts.
Ethena trusts this model would guarantee USDe’s peg in the volatile digital assets space.
The new framework enriches the perpetual futures plan with greater flexibility.
BNB will allow it to diversify exposure to perpetual futures, unlocking new hedging avenues while reducing systemic risks for a more balanced ecosystem.
That’s a shift from the previous model, which had a somewhat narrow collateral structure that created notable risks and opportunities.
The new Eligible Asset Framework allows Ethena to unlock a wider pool of digital assets.
That would enable it to adapt to market fluctuation, strengthen the USDe backing. Also, it will eliminate concentration risks.
The framework represents Ethena’s long-term strategy to make its stablecoin sustainable and reliable.
Binance Coin in the spotlight
BNB led large-cap rallies as it skyrocketed to all-time highs of around $880, fueled by institutional demand.
Ethena disclosed that its Risk Committee team selected Binance Coin as the initial approved asset.
The digital token boasts a market cap of over $117 billion, making its addition key.
BNB is among the tokens with stable utility, powering the largest crypto exchange, Binance.
Its integration bolsters USDe’s credibility and liquidity.
Further, the decision reflects Ethena’s dedication to incorporating established and proven crypto assets.
The community will watch which other token Ethena chooses next, after XRP and HYPE.
Replying to @ethena_labs
Other assets that are approved under the new framework:
XRP and HYPE meet all thresholds → candidates for onboarding shortly
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Ethena’s native token flashed bullishness following the news.
It trades at $0.6453, up 1.80% on its daily chart as the broad market saw considerable selling pressure ahead of Powell’s commentary.
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