Ethena Partners with Anchorage to Advance Institutional Lending and Off-Chain Collateral Management

Odaily reported that Ethena Labs has partnered with Anchorage Digital. Anchorage will provide collateral management services for Ethena’s institutional lending business through its Atlas Collateral Management platform.

The collaboration allows Ethena to extend loans to institutional clients while keeping the collateral assets custodied at Anchorage, without requiring a full transfer on-chain. Atlas will provide real-time monitoring of collateral and loan thresholds, and automatically execute margin processes and rule-based operations.

Since April this year, Ethena has begun restructuring its USDe reserves, transitioning towards an over-collateralized institutional lending model to reduce reliance on perpetual swap basis trading. Anchorage Digital Bank previously also served as the U.S. issuer of Ethena’s institutional-grade stablecoin, USDtb.