Leading global cryptocurrency exchange and Web3 company, Bitget, has announced the integration of synthetic USD USDe from Ethena Labs as a collateral for coin-margined contract trading. This launch of the new secure synthetic USD will enrich trading options and provide users with a diversified trading experience. Coin-margined contract trading collateral supports multiple currencies for over 230 contract trading pairs on the Bitget platform.
Ethena has already implemented the creation and redemption of synthetic USD USDe, which is a scalable and censorship-resistant form of currency. The mechanism supporting USDe has introduced the first “online bond”, offering a value-adding, USD-denominated cryptographic tool.
USDe is the seventh currency to join Bitget’s collateral options, with other currencies including BTC, ETH, USDC, XRP, BGB, and STETH. The addition of USDe brings numerous advantages for Bitget users, expanding the range of trading strategies to meet different individual trader needs. Using USDe as collateral can improve capital efficiency and optimize asset allocation. Through USDe, users can enjoy a more stable, convenient, and flexible trading environment.
Gracy Chen, CEO of Bitget, stated, “Bitget continuously provides world-class trading resources to users, whether it’s market insights, DeFi, or any other related trading optimization mechanism, we have it all! Just a year ago, USDe did not exist, but now it accounts for approximately 3% of the stablecoin supply. This growth demonstrates the potential of the USDe mechanism, and we are excited to continue supporting innovative native crypto projects and collaborating with them.”
To use USDe as collateral for coin-margined contract trading on the Bitget platform, users only need to follow a few simple steps:
1. Transfer USDe funds to the coin-margined contract account.
2. Enter the contract trading interface and select the coin-margined contract.
3. Choose a trading pair (e.g., BTCUSD) and select USDe as collateral.
4. Adjust leverage based on personal risk tolerance and trading strategy.
Users can place orders to buy/sell and other types of orders based on market analysis, monitor positions and market conditions, and use stop-loss and take-profit orders to manage risks and ensure profits. When a trade reaches the predefined profit or loss range, users can close positions at market prices or within the set price limits.
Bitget has been committed to continuous innovation and optimization, striving to provide efficient and convenient trading services for users. Bitget meets the demand for more flexible derivative products and utilizes emerging technologies such as artificial intelligence to assist 25 million users in managing and diversifying their investment portfolios.
For more details, please refer to Bitget’s official announcement.
About Bitget:
Founded in 2018, Bitget is a leading global cryptocurrency exchange and Web3 company. Bitget currently serves over 25 million users in more than 100 countries worldwide, dedicated to helping users trade more intelligently through its innovative copy-trading feature and other trading solutions.
Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain cryptocurrency wallet that provides a comprehensive range of Web3 solutions and features, including wallet functionality, exchanges, NFT marketplace, DApp browser, and more. Bitget encourages mass adoption of cryptocurrencies through partnerships with Argentine football legend Lionel Messi and official esports event organizer PGL.
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