Ethena taps Flowdesk as USDe climbs $14 billion amid synthetic dollar surge

Ethena has partnered with Flowdesk to boost USDe and USDtb access, as USDe surpasses $14 billion in market cap and becomes the third-largest stablecoin.

The rapid growth of the Ethena stablecoin ecosystem continued on Friday as Ethena Labs announced a partnership with institutional OTC desk Flowdesk, aimed at expanding access to its two tokens — USDe and USDtb.

Flowdesk, whose clients include token issuers, hedge funds and exchanges, will support trading and reward programs tied to both stablecoins, the companies said.

USDe is Ethena’s synthetic dollar, backed mainly by crypto assets and stabilized through a delta-neutral hedging strategy that keeps its value pegged to $1.

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