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Bybit Launches Direct USDe Minting and Redemption via On-Chain Earn

Bybit introduces seamless USDe minting and redemption, enhancing stablecoin accessibility and liquidity for all users.
Published on 2025-03-12

Bybit Enhances On-Chain Earn with USDe Minting and Redemption

Bybit, the world's second-largest cryptocurrency exchange, has unveiled a groundbreaking update to its On-Chain Earn product. Users can now directly mint and redeem USDe without whitelist restrictions, significantly boosting liquidity and accessibility within the ecosystem.

Unlocking USDe Potential

USDe, developed by Ethena, is a synthetic dollar backed by crypto assets and hedged through short futures positions. It offers a stable alternative with yield potential, appealing to users seeking secure yet lucrative financial instruments.

Seamless USDe Transactions

The new feature allows users to:

  • Mint USDe: Deposit USDT or USDC into Bybit On-Chain Earn and receive USDe instantly.
  • Redeem USDe: Convert USDe back into USDT or USDC in a single transaction.

Key Advantages

  • No Whitelist Requirements: Accessible to everyone, unlike Ethena's restricted minting.
  • Instant Transactions: Swift asset conversion in a single transaction.
  • Enhanced Liquidity: Eliminates reliance on market makers and price volatility.
  • Effortless Yield Generation: Earn dynamic APR by holding USDe in a Bybit Funding Account without staking.

Bybit's Leadership in Stablecoin Ecosystem

Bybit's introduction of unrestricted USDe minting and redemption marks a major milestone. It solidifies their position as a leader in the digital asset industry, offering innovative solutions that empower users worldwide.

About Bybit

Bybit serves over 60 million users globally, redefining openness in the decentralized world. With a strong focus on Web3, Bybit partners with leading blockchain protocols to drive on-chain innovation, providing robust infrastructure and user-friendly tools.

For more details, visit Bybit Press or contact media@bybit.com. Follow Bybit on Discord, Facebook, Instagram, LinkedIn, Reddit, Telegram, TikTok, and Youtube.

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