Markets
Ethena's USDe Expands into South Korea with First Exchange Listing
The synthetic dollar will be available on KRW spot pairs as Ethena Labs pushes for greater global adoption.
September 29, 2025
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Ethena's USDe stablecoin is now listed on its first South Korean exchange, marking its entry into the market.
The listing includes spot trading pairs against the Korean Won (KRW) and a yield-generating earn product.
This move is part of a broader global expansion strategy for the synthetic dollar.
Ethena Labs' synthetic dollar, USDe, has secured its first listing on a South Korean cryptocurrency exchange, which is reported to be the third-largest in the country. This strategic move introduces USDe to a major Asian market, making it available for spot trading against the Korean Won (KRW).
This listing is a key part of Ethena's expansion strategy, providing South Korean users with access to a dollar-denominated savings instrument. The stablecoin will also be integrated into an "earn product," allowing users to generate yield.
The push into Korea signals Ethena's intent to build a significant presence in the region's vibrant digital asset ecosystem. This development follows other strategic listings, including the Ethena (ENA) governance token on Upbit, South Korea's largest exchange, and USDe on the US-based exchange Kraken.
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