MEXC cryptocurrency exchange Declare A $ 20 million strategic investment in USDE, the artificial dollar created by Ethena Labs as part of the trading platform commitment to “expanding the adoption of Stablecoin and enhancing innovation within the Crypto ecosystem”.
Besides USDE investment, Mexc Ventures, an investment arm in Exchange, revealed an additional $ 16 million pumping directly into Etheina. This dual financial commitment not only raises the total Mexc investments to $ 36 million in the eclipse of Ethina, but also indicates a strong bet on the basic infrastructure that supports decentralized financing.
Usde, who is depicted by Ethaina as an original Divie alternative to the dominant central Stablecoins, is to provide a stable and transparent value store alike. Unlike the traditional Stablecoins that often depends on the Fiat currency reserves, USDE works on the algorithm model, with the aim of maintaining parity with the US dollar through advanced risk management strategies and stability mechanisms.
To further pay the USDE adoption and expand its integration in the booming DEFI ecosystem, Mexc launched a $ 1 million incentive campaign, according to its recent publication press release.
MEXC promotes the etheina ecosystem trade
The Exchange is now a zero trading to US dollar pairs, evaluation opportunities and other incentives designed to attract investors. Trysey Jin, MEXC Operations Manager, said the exchange is committed to supporting the expansion of Stablecoins, which “plays a pivotal role in developing the broader encryption market.”
“With the increase in the adoption of digital assets, Stablecoins will attract larger investments, creating new opportunities for users. We realize Ethena and USDE as main players in this advanced scene, and we are excited to contribute to their success by providing users with more stable and effective financial solutions.”
