Transak’s global on-ramp now offers access to USDe, a synthetic dollar gaining ground in emerging markets
Transak, a major fiat-to-crypto infrastructure provider, has integrated USDe—Ethena Labs’ synthetic dollar—into its global platform, allowing non-U.S. users to purchase the token with local payment options like credit cards, Apple Pay, Google Pay, and bank transfers. The move aims to streamline access to decentralized financial tools for users around the world.
USDe is now available via Transak’s fiat on-ramp widget and API, embedded in over 450 partner platforms including wallets, games, and decentralized apps.
A Synthetic Dollar Without Fiat Backing
Unlike traditional stablecoins such as USDC or USDT, which are backed by fiat reserves held in bank accounts or Treasuries, USDe relies on a market-based strategy to maintain its dollar peg. Ethena achieves this by holding long positions in crypto assets like ETH and shorting perpetual futures, creating a delta-neutral position that offsets volatility. This mechanism is entirely crypto-native and bypasses reliance on the banking system.
With nearly $10 billion in circulation, USDe has surged to become the third-largest tokenized dollar by market cap, driven by demand for decentralized, censorship-resistant stable assets.
Yield Through sUSDe Staking
Ethena also offers a yield-bearing version of the token, sUSDe. Users who stake USDe earn passive rewards—currently around 10% APY—through a mix of funding rate arbitrage, basis spreads, and ETH staking rewards. This mechanism is intended to drive adoption while providing an on-chain source of return for users.
Global Use Cases and Emerging Market Appeal
Transak CEO Sami Start highlighted that stablecoin adoption is accelerating globally. “Many users want better stores of value, decentralized access, and censorship resistance. USDe meets all three,” Start said. “As stablecoins evolve beyond fiat wrappers, they require robust infrastructure. Transak is building that access layer.”
Ethena’s founder Guy Young added that Transak’s infrastructure expands USDe’s reach: “We’re bringing the synthetic dollar to anyone, anywhere.”
USDe’s appeal is particularly strong in regions with restricted banking access or volatile local currencies, where traditional dollar-backed stablecoins may face limitations due to banking dependencies.
Transak Expands Stablecoin Access Infrastructure
With this latest integration, Transak continues to position itself as a global access point for stablecoins. Its suite of APIs and compliance-ready rails allows developers to integrate fiat-to-crypto flows into their apps while supporting a wide range of local payment methods.
Transak’s infrastructure is now used by over 10 million users across 100+ countries. By adding USDe to its platform, the company enhances the availability of alternative dollar assets in jurisdictions where traditional banking may fall short.
This listing strengthens the trend of crypto-native stablecoins gaining traction as viable financial tools—not just speculative instruments—in the next phase of DeFi adoption.
