On October 25, Wintermute announced that it will accept USDe, a cryptocurrency-backed stablecoin, as collateral for spot crypto and derivatives trades. This decision allows Wintermute's clients to use USDe on the X platform alongside existing accepted collaterals such as Bitcoin, Ether, Solana, and US Dollar Coin. The move reflects the growing trend of using cryptocurrencies, particularly stablecoins, in trading and payments. The stablecoin market has seen substantial growth in 2024, with a market capitalization exceeding $170 billion. USDe, launched by Ethena Labs in February, has reached a circulating supply of over $2.6 billion. It allows users to mint USDe against assets like BTC, ETH, and liquid staking derivatives while hedging volatility through off-chain financial derivatives. Wintermute’s acceptance of USDe aligns with broader industry trends as exchanges and regulators explore using digital assets as collateral and margin for trading.

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