In a significant move to expand its presence in the stablecoin market, MEXC, a leading global cryptocurrency exchange, has recently acquired $20 million worth of USDe, Ethena's synthetic dollar. This strategic investment underscores MEXC's commitment to making cryptocurrency more accessible and fostering trust within the community.
The acquisition of USDe has already shown remarkable impact, with a surge in ENA trading volume and a substantial boost in USDe's Total Value Locked (TVL). As of May 2025, MEXC recorded a TVL for USDe exceeding $100 million, positioning it as the second-largest holder of USDe TVL among centralized exchanges.
This milestone aligns with the broader growth of USDe, which has achieved a circulating supply of nearly $5.2 billion, making it the fourth-largest stablecoin by market capitalization. Unlike many volatile crypto assets, USDe offers greater price stability, backed by Ethena's innovative strategies for maintaining value.
MEXC's investment journey in the stablecoin space also includes a prior commitment of $16 million to Ethena, a key player in stablecoin innovation. This ongoing partnership highlights MEXC's dedication to driving industry advancements and supporting synthetic stablecoin adoption.
The ripple effect of MEXC's actions is felt across the global crypto market, as the exchange continues to shape trends and influence stablecoin dynamics. Industry observers note that such investments could pave the way for broader acceptance and integration of synthetic stablecoins in mainstream finance.
As MEXC forges ahead with its mission, the exchange remains a pivotal force in the cryptocurrency ecosystem, encouraging both new and seasoned investors to explore the potential of stablecoins like USDe. This development marks a promising chapter in the evolution of digital assets.
Alfred Lee
