Upbit, a leading South Korean cryptocurrency exchange, announced new trading support for Ethena USDe (USDe). USDe will be available in KRW, BTC, and USDT trading pairs, with trading starting on January 14 at 6 PM and deposits beginning about 1.5 hours later. Transactions will only be supported on the Ethereum network, and transfers from other networks will not be accepted. Users should verify the official USDe smart contract address before sending funds, as temporary post-listing restrictions will apply: buy orders are not accepted for the first five minutes, sell orders below 10% of the previous day’s close are blocked, and only limit orders will be allowed for about two hours after opening.
USDe is a delta-neutral synthetic stablecoin designed to limit price fluctuations by holding ETH and BTC as collateral while shorting futures contracts of the same nominal value. This structure aims to keep its value near $1 amid market volatility. Developed by Ethereum, USDe benefits from automated risk management, custody solutions, and reserve mechanisms balancing funding costs. It is expected to see increased use as collateral in DeFi, on-chain payments, and derivatives markets.
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