Ethena and Safe expand the use of USDe with zero gas on Ethereum.

• USDe wins gasless transactions on Ethereum.
• Safe increases rewards for USDe in multisig.
• Partnership accelerates adoption of stablecoins in DeFi.

The Safe Foundation announced a strategic partnership with Ethena Labs to expand the adoption of USDe, one of the largest on-chain tokenized dollars on the market. The agreement seeks to reduce transaction costs on Ethereum and create additional incentives for institutional users who hold USDe in Safe multisig wallets.

With this initiative, transactions involving USDe on the Ethereum base layer will benefit from a model that reduces or eliminates gas fees in certain operational flows. At the same time, the partnership significantly increases the potential for accumulating reward points for users who utilize Safe's self-custody infrastructure.

"This collaboration signals a broader strategic initiative by Safe to move the stablecoin economy towards a self-custody model."

the companies stated.

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"This partnership formalizes both companies' commitment to positioning Safe's self-custody wallet ecosystem as the preferred platform for accessing Ethena's products."

Safe is widely used by on-chain organizations, such as DAOs and cryptocurrency-native companies, offering programmable, non-custodial smart contracts. Currently, approximately US$6,6 billion in stablecoins are protected in multisigs on the platform, including roughly US$65,1 million in sUSDe, the staking-earning version of USDe.

Second public data Within the ecosystem, nearly 85% of all Ethena assets held in self-custody solutions are allocated within Safe's structures. As part of the agreement, Safe accounts that store USDe will receive a 10x multiplier on points accumulated during the current Ethena points program.

"This alliance will accelerate the integration of USDe into the deeper layers of the DeFi economy."

"said Guy Young, founder of Ethena Labs, in a statement."

USDe stands out as a synthetic dollar native to cryptocurrencies, developed primarily on Ethereum. Instead of bank reserves in fiat currency, the asset maintains its parity with the dollar through a delta-neutral strategy, combining long positions in cryptocurrencies, such as ETH, with perpetual short positions for risk compensation.

Although Ethena avoids classifying USDe as a traditional stablecoin, the asset is often analyzed alongside tokens like USDT and USDC due to its price stability. In recent months, USDe has been surpassed by USDS as the third largest on-chain dollar in circulation.

Ethena Labs has also been expanding its product portfolio, focusing on stablecoin-as-a-service solutions and integrations with different ecosystems. The partnership with Safe reinforces the strategy of deepening the use of USDe in DeFi applications, prioritizing operational efficiency, self-custody, and direct integration with the Ethereum infrastructure.