On January 14, the Safe Foundation announced a strategic partnership with Ethena Labs, the issuer of USDe, to promote the use of on-chain synthetic US dollars (USDe). According to the partnership, USDe transactions on the Ethereum mainnet will have reduced or even eliminated gas costs. Additionally, USDe held in Safe multisignature wallets will receive a 10x bonus under the Ethena Points program.
Both parties stated that this collaboration is an important step in guiding the stablecoin economy toward a "self-custody track," and they hope to make Safe's self-custody wallet ecosystem the preferred entry point for Ethena products.
Data shows that approximately $6.6 billion in stablecoins are currently held in custody by Safe Multisignature, including $65.1 million in sUSDe (a collateralized, interest-bearing version of USDe), which accounts for nearly 85% of Ethena's total assets in Safe.
