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Coinbase announces multi-product infrastructure partnership with Ethena Labs, supporting USDe integration
Coinbase has announced a partnership with Ethena Labs, under which Coinbase will serve as Ethena's primary custodian, wallet provider, and perpetuals venue, supporting infrastructure for more than $5 billion in assets. The agreement includes integration of Coinbase Prime custody and Web3 wallet services, USDC backing support, and the forthcoming addition of USDe to the Coinbase Base ecosystem.
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Coinbase has formalized a multi-product partnership with Ethena Labs, developer of the USDe synthetic dollar protocol. Under this agreement, Coinbase Prime will serve as Ethena's primary custodian, provide USDC backing support, and see its Prime Web3 Wallet infrastructure integrated into Ethena's minting and redemption flows. The announcement states this covers more than $5 billion in assets and highlights the addition of USDe to the Base ecosystem. According to the published details, Ethena selected Coinbase following a due diligence process, citing factors such as operational reliability and risk management. The scope of the agreement extends to custody of ENA tokens held by the Ethena team and foundation, and increased USDC utilization within the protocol.
Coinbase is a cryptocurrency exchange platform aimed primarily at novice traders, offering access to a wide selection of cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash. The platform supports web and mobile access, includes offline asset storage, and provides resources such as training programs, analytical tools, and a free e-wallet with a virtual card. For more details, see the broker profile on Traders Union.
For more context, see the previous Coinbase update on Traders Union, which discussed the platform's recent expansion into the Indian market and ongoing technical pressures affecting its stock performance.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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