Anchorage Digital will act as the collateral manager through its Atlas Collateral Management infrastructure. Collateral for the lending operations will remain under Anchorage Digital's regulated custody instead of being deployed directly on-chain. Anchorage Digital Bank N.A. additionally serves as the US issuer for the institutional-grade stablecoin USDtb.
Coinbase Ventures, the investment division of cryptocurrency exchange Coinbase (NASDAQ: COIN), has invested in Ethena (ENA) by purchasing the protocols native token on the open market. The move comes as both companies prepare to introduce a new onchain savings product aimed at Coinbases global user base of more than 100 million customers.
Coinbase Ventures has purchased ENA tokens on the open market and announced a partnership with Ethena to build onchain savings products for more than 100 million combined users.
Anchorage Digital has expanded its Atlas Collateral Management platform through a new arrangement with Ethena Labs, positioning the federally chartered crypto bank as collateral manager for Ethena's institutional lending operations.
Coinbase Ventures, the exchange's venture arm, bought Ethena tokens on the open market as the protocol is set to roll out a Coinbase integration next week.
Ethena has formed a strategic alliance with Anchorage Digital to enhance its institutional crypto lending capabilities through advanced collateral oversight. This collaboration positions Anchorage Digital's Atlas infrastructure as the core component of Ethena's credit operations.
Coinbase Ventures has purchased ENA tokens on the open market as Coinbase and Ethena prepare a new partnership focused on on-chain finance and savings products.
Coinbase Ventures bought ENA as Coinbase expanded its Ethena partnership across custody, wallets, perps, and USDe access. Coinbase buys ENA stake as Ethena token jumps 15% on expanded partnership.
Ethena said the two companies have also become partners "to grow onchain finance and savings products."
ENA rebounds from support as traders weigh Binance deposits and a major token unlock.
Whale-sized orders appeared near lows, but buyers still need to defend support.
New Ethena reserve data shows the protocol shifting away from aggressive derivatives-based yield strategies toward a more conservative liquidity and credit-focused model.