MEXC invests $36M in Ethena and USDe stablecoin

MEXC Ventures, the investment arm of crypto exchange MEXC, has invested $36 million in Ethena (ENA) and its USDe stablecoin, according to CoinDesk. The firm allocated $16 million to Ethena and purchased $20 million worth of USDe to support synthetic dollar adoption in decentralized finance (DeFi). MEXC’s investment comes as competition in the stablecoin sector intensifies, with projects exploring new models for stability and adoption.