Ethena Labs has teamed up with fintech firm UR Global to integrate its synthetic dollar, USDe, into UR’s new digital banking platform.
The official blog from UR Global reads that the partnership allows users in over 45 countries to hold, convert, and soon spend USDe directly within UR’s neobank app, bridging the gap between decentralized finance (DeFi) and traditional banking.
UR users will be able to accrue up to 5% per year in yield on their USDe balances without staking or locking assets. The integration also eliminates significant pain points in crypto-fiat transactions, with zero off-ramp fees for USDe-to-fiat swaps.
UR has self-custody wallets from Turnkey, secured by biometric authentication. Deposits and transactions are all recorded and settled on the Mantle Network for on-chain visibility and verification.
New users signing up and fulfilling KYC during the period of October 7, 2025, to January 6, 2026, get a three-month free Pro membership, with fee exemptions and increased transaction limits.
The service also includes a Mastercard debit card, Apple Pay, Google Pay, Alipay, and other leading payment schemes that are compatible, which enable users to spend from their UR accounts like a standard bank card. Spending from USDe balances directly through Mastercard will launch in the next few weeks.
USDe’s growing reach
USDe is a crypto-native synthetic dollar developed by Ethena Labs. It is fully backed by digital assets rather than fiat currency and designed for fast and transparent transactions. As of October 2025, its total value locked (TVL) has surpassed $14.8 billion, as per DefiLlama. It is the third-largest USD-backed stablecoin by market capitalization.
Last month, Ethena partnered with Binance to bring its USDe stablecoin to the exchange. USDe is also accessible on Binance Earn and on the spot market with pairs such as USDE/USDT and USDE/USDC.
Also Read: Hyperliquid’s USDH Stablecoin Goes Live on Felix Vanilla
