XRP News Today: Ethena Expands USDe Collateral with BNB XRP and HYPE Inclusion Likely

Generated by AI AgentCoin World
Sunday, Aug 24, 2025 10:07 am ET2min read
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Aime RobotAime Summary

- Ethena Labs approved BNB as collateral for its stablecoin USDe, with XRP and HYPE as potential future additions under its new asset framework.

- Eligible assets must meet liquidity, trading volume, and order book depth thresholds to ensure stability and risk mitigation.

- The delta-neutral hedging strategy, using short positions on perpetual contracts, supports USDe's $12B market cap and competitive positioning.

- This expansion aligns with broader stablecoin trends toward diversified collateral strategies to enhance resilience and investor confidence.

Ethena Labs has taken a significant step in broadening the collateral base for its synthetic stablecoin, USDe, by approving

BNB
as the first token under its newly launched “Acceptable Asset Framework.” In addition,
XRP
and Hyperliquid’s HYPE have met the necessary risk and liquidity criteria and are now designated as potential candidates for future inclusion in the collateral pool [6]. This move aligns with Ethena’s ongoing strategy to diversify the assets backing USDe and strengthen its position in the competitive stablecoin market [7].

Under Ethena’s framework, eligible assets must satisfy a set of quantitative metrics, including minimum thresholds for open interest, spot and derivatives trading volumes, and order book depth. These parameters ensure that only liquid and stable assets are considered for inclusion [1]. BNB’s approval marks the beginning of a more flexible and dynamic approach to collateral management, with XRP and HYPE expected to follow in the near future [9].

Ethena uses a delta-neutral strategy to manage the volatility of its collateral assets. By opening equivalent short positions on perpetual contracts, the protocol can hedge against price fluctuations, a technique commonly used in traditional options trading [2]. This risk-mitigation approach enhances the stability of USDe, which has grown to a market capitalization of nearly $12 billion, securing its position as the third-largest stablecoin by market cap [3].

The inclusion of XRP and HYPE reflects Ethena’s data-driven and cautious approach to asset selection. Both tokens were evaluated against the same rigorous standards as BNB, and their approval is seen as a strategic step to improve the resilience of USDe’s backing structure [4]. The move is also expected to reinforce investor confidence in the stablecoin’s long-term sustainability and transparency [5].

Ethena has indicated that the list of eligible assets will be regularly updated based on evolving market conditions. However, approval does not guarantee immediate implementation, as the protocol continues to refine its risk management framework. This iterative process underscores Ethena’s commitment to maintaining a robust and adaptable collateral system [8].

The expansion of USDe’s collateral base aligns with broader trends in the stablecoin sector, where operators are increasingly adopting diversified and responsive asset strategies to manage risk and ensure stability [10]. As Ethena continues to refine its approach, the addition of XRP and HYPE highlights its focus on building a resilient, transparent, and market-responsive stablecoin ecosystem.

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Source:

[1] Ethena expands USDe collateral with BNB, XRP (https://cryptoslate.com/ethena-labs-targets-20b-usde-growth-as-it-adds-bnb-xrp-hype-to-its-collateral-framework/)

[2] Ethena Rolls Out First Eligible Asset Framework to Back ... (https://crypto-economy.com/ethena-rolls-out-first-eligible-asset-framework-to-back-usde/)

[3] USDe’s Rising Market Capitalization (https://coinpaper.com/10681/xrp-and-hype-added-to-ethena-s-asset-list-for-us-de-backing)

[4] Ethena Approves XRP, HYPE for USDe Backing, Rejects ... (https://www.ainvest.com/news/ethena-approves-xrp-hype-usde-backing-rejects-sui-ada-2508/)

[5] XRP News Today: Ethena's Data-Driven Collateral ... (https://www.ainvest.com/news/xrp-news-today-ethena-data-driven-collateral-expansion-aims-secure-usde-future-2508/)

[6] Ethena approves BNB, XRP, and HYPE in eligible ... (https://blockzeit.com/ethena-approves-bnb-xrp-and-hype-in-eligible-asset-framework/)

[7] Ethena greenlights BNB for USDe backing under new ... (https://www.theblock.co/post/367943/ethena-greenlights-bnb-for-usde-backing-under-new-framework-signals-possible-xrp-and-hype-onboarding)

[9] BNB Joins USDe's Backing, XRP and HYPE Next in Line (https://news.

bitcoin
.com/bnb-joins-usdes-backing-xrp-and-hype-next-in-line/)

[10] Ethena has expanded collateral options for its USDe ... (https://www.mitrade.com/insights/news/live-news/article-3-1063177-20250823)