According to CoinMeta, Ethena is collaborating with Binance to launch a new revenue market for USDE, beginning to deploy the foundational strategies of USDE within tokenized stocks. This move provides a new source of income for derivatives, no longer relying solely on Bitcoin and the crypto funding market. Ethena will hold bStocks as the tokenized spot component on Binance and will go short on the corresponding stock perpetual contracts denominated in USDT, thereby expanding the support structure of USDE. The first allocation will begin on September 25th. The risk committee of Ethena is studying the liquidity of the stock perpetual contract market to ensure that it does not increase substantial directional stock risks.