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Transak announced Thursday the listing of (CRYPTO: USDe), the synthetic dollar issued by Ethena Labs, on its global fiat on-ramp infrastructure.
The move makes USDe, now the third-largest tokenized dollar by market capitalization, directly accessible via local payment methods to users outside the U.S.
With nearly $10 billion in circulation, USDe has risen to the top of the stablecoin ranks, driven by its unique, crypto-native structure.
Unlike traditional stablecoins that rely on fiat reserves or bank-held assets, USDe is maintained through a delta-neutral financial strategy that eliminates dependency on centralized financial infrastructure.
Transak's integration opens up direct access to USDe using credit cards, Apple Pay, Google Pay, and regional banking systems.
"This integration supports our broader mission to bring USDe to users globally — especially in emerging markets — with reliable infrastructure," said Guy Young, founder of Ethena Labs.
By supporting USDe, Transak continues to position itself as a key player in bridging fiat and decentralized finance.
Transak's infrastructure is already embedded across 450+ wallets, games, and dApps, providing global users seamless entry into crypto through both fiat and local rails.
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USDe differs from traditional stablecoins like (CRYPTO: USDC) and (CRYPTO: USDT) by relying on a delta-neutral model. It holds long positions in ETH while shorting perpetual futures contracts to offset volatility.
The mechanism enables it to maintain a stable $1 peg while generating yield through funding rates, basis spreads, and staking rewards.
When staked, users receive sUSDe, which currently yields around 10% APY.
Transak CEO Sami Start described USDe as a key innovation in the stablecoin space, especially as demand for non-custodial, censorship-resistant financial tools grows.
"USDe offers purchasing power preservation, decentralization, and access — a combination many users are actively seeking,” he said.
This listing reinforces the rising popularity of synthetic dollars, particularly among users in emerging economies, where access to traditional USD or banking infrastructure may be limited.
It also underscores a growing trend toward on-chain, yield-bearing stable assets that function outside the constraints of traditional banking.
USDe is now available via Transak's widget and API, making it easily purchasable across integrated partners’ platforms.
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Photo: Shutterstock
