Ethena Adds Tokenized Stocks as USDe Collateral via Binance

This is a notable expansion of what counts as acceptable collateral for a synthetic dollar, moving beyond crypto-native basis trades into tokenized equity exposure — a structure that leans on Binance both as custodian of the collateral and as the venue for the offsetting hedge. The concentration is the story: the same platform now sits on both sides of the trade, which matters for anyone assessing counterparty and liquidation dynamics rather than the yield itself. Whether other issuers follow into equity basis, and how the collateral mix evolves, is the open question.