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YZi Labs increases its stake in Ethena Labs as the supply of stablecoin USDe reaches 13 billion dollars.
YZi Labs, a family office founded by Changpeng "CZ" Zhao and Yi He, has increased its investment in Ethena Labs – the issuer of the stablecoin USDe. USDe is currently the third largest digital currency pegged to the USD, with over 13 billion USD in circulation.
The new investment round will support Ethena's expansion on the BNB Chain, while developing products that connect cryptocurrency and traditional finance. This includes USDtb, a stablecoin backed by fiat currency, and Converge, a payment platform for organizations collaborating with Securitize and partners related to BlackRock.
This stage marks an important development step for Ethena in enhancing market accessibility, improving liquidity, and creating a bridge between cryptocurrency and traditional finance.