BitGo Expands Institutional Access to Ethena’s USDe With Rewards Support

NEW YORK--(BUSINESS WIRE)--BitGo Inc., the digital asset infrastructure company and wholly owned subsidiary of BitGo Holdings, Inc. (NYSE: BTGO) (“BitGo”), today announced support for rewards on USDe, the synthetic dollar developed by Ethena Labs. Clients holding qualifying USDe with BitGo may be eligible to receive monthly rewards without staking or lockup requirements. USDe held in custody with BitGo Bank & Trust, National Association may qualify for rewards, providing clients with an integrated experience across BitGo’s platform.

The addition of USDe rewards further expands the range of assets and services available to institutional clients across the BitGo platform.

“BitGo is focused on expanding the tools institutions can use to manage digital assets within a secure and streamlined framework,” said Mike Belshe, CEO and Co-founder of BitGo. “Support for USDe rewards gives eligible clients another way to hold digital assets on the BitGo platform while maintaining liquidity and operational simplicity.”

USDe is a synthetic dollar developed by Ethena Labs, and designed to maintain a target value of one U.S. dollar through a delta-neutral strategy involving spot digital assets and offsetting derivatives positions.

“BitGo’s institutional infrastructure makes it an important platform for expanding access to USDe among institutional market participants,” said Elliot Parker, COO of Ethena. “Making rewards available through BitGo broadens access for clients seeking to hold USDe within an institutional digital asset platform.”

Clients may access USDe rewards with current balances or by transferring existing balances to BitGo.

About BitGo

BitGo (NYSE: BTGO) is the digital asset infrastructure company delivering custody, wallets, staking, trading, financing, stablecoins, and settlement services from regulated cold storage. Since 2013, BitGo has focused on accelerating the transition of the financial system to a digital asset economy. BitGo maintains a global presence and multiple regulated entities, including BitGo Bank & Trust, National Association, the first federally chartered digital asset trust bank owned by a publicly traded company. Today, BitGo serves thousands of institutions, including many of the industry's top brands, financial institutions, exchanges, and platforms, and millions of investors worldwide. For more information, visit www.bitgo.com.

About Ethena Labs

Ethena is a synthetic dollar protocol built on Ethereum that provides a crypto-native solution for money, USDe, alongside a globally accessible dollar savings asset, sUSDe.

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