BitGo Expands Institutional Access to Ethena’s USDe With Rewards Support

Key Terms

synthetic dollar technical

A synthetic dollar is dollar exposure or funding created through financial contracts (such as currency swaps, forwards or other derivatives) instead of holding actual U.S. cash or bank deposits. It matters to investors because it can provide a cheaper or faster way to get U.S. dollar access, but it brings extra risks—like dependence on counterparties, contract rollovers and changing market terms—similar to borrowing a friend’s car instead of owning one, which can affect funding costs and asset prices.

delta-neutral strategy technical

A delta-neutral strategy is an options or derivatives approach that balances positions so small moves in the underlying asset have little or no effect on the portfolio’s immediate value. Think of it like placing weights on a seesaw to keep it level: the investor hedges price exposure so they’re not hurt or helped by ordinary up-and-down swings. This matters because it reduces directional risk and lets investors focus on earning from volatility, time decay, or interest differences instead of predicting the asset’s next move.

derivatives positions financial

Derivatives positions are contracts—like options, futures or swaps—whose value depends on the price or performance of an underlying asset such as a stock, commodity or index. Holding a derivatives position is like placing a targeted bet or buying insurance on future price moves: it can amplify gains or losses and can be used to hedge risk, so investors watch these positions for their potential impact on returns, risk exposure and company or market stability.

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NEW YORK--(BUSINESS WIRE)-- BitGo Inc., the digital asset infrastructure company and wholly owned subsidiary of BitGo Holdings, Inc. (NYSE: BTGO) (“BitGo”), today announced support for rewards on USDe, the synthetic dollar developed by Ethena Labs. Clients holding qualifying USDe with BitGo may be eligible to receive monthly rewards without staking or lockup requirements. USDe held in custody with BitGo Bank & Trust, National Association may qualify for rewards, providing clients with an integrated experience across BitGo’s platform.

The addition of USDe rewards further expands the range of assets and services available to institutional clients across the BitGo platform.

“BitGo is focused on expanding the tools institutions can use to manage digital assets within a secure and streamlined framework,” said Mike Belshe, CEO and Co-founder of BitGo. “Support for USDe rewards gives eligible clients another way to hold digital assets on the BitGo platform while maintaining liquidity and operational simplicity.”

USDe is a synthetic dollar developed by Ethena Labs, and designed to maintain a target value of one U.S. dollar through a delta-neutral strategy involving spot digital assets and offsetting derivatives positions.

“BitGo’s institutional infrastructure makes it an important platform for expanding access to USDe among institutional market participants,” said Elliot Parker, COO of Ethena. “Making rewards available through BitGo broadens access for clients seeking to hold USDe within an institutional digital asset platform.”

Clients may access USDe rewards with current balances or by transferring existing balances to BitGo.

About BitGo

BitGo (NYSE: BTGO) is the digital asset infrastructure company delivering custody, wallets, staking, trading, financing, stablecoins, and settlement services from regulated cold storage. Since 2013, BitGo has focused on accelerating the transition of the financial system to a digital asset economy. BitGo maintains a global presence and multiple regulated entities, including BitGo Bank & Trust, National Association, the first federally chartered digital asset trust bank owned by a publicly traded company. Today, BitGo serves thousands of institutions, including many of the industry's top brands, financial institutions, exchanges, and platforms, and millions of investors worldwide. For more information, visit www.bitgo.com.

About Ethena Labs

Ethena is a synthetic dollar protocol built on Ethereum that provides a crypto-native solution for money, USDe, alongside a globally accessible dollar savings asset, sUSDe.

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict, that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the highly volatile nature of digital assets, technical issues in connection with the integration of supported digital assets and changes and upgrades to their underlying network, heightened scrutiny of our industry and operations, the theft, loss, or destruction of private keys required to access any digital assets held in custody for our own account or for our clients, errors in executing client transactions or managing our own trading activities, and the other factors discussed in the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 27, 2026, and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. Such forward-looking statements are based on facts and conditions as they exist at the time such statements are made and predictions as to future facts and conditions. While the Company believes these forward-looking statements are reasonable, readers of this press release are cautioned not to place undue reliance on any forward-looking statements. The information in this release is provided only as of the date of this release, and the Company does not undertake any obligation to update any forward-looking statement relating to matters discussed in this press release, except as may be required by applicable securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260408724117/en/

Media Contact
press@bitgo.com

Source: BitGo Holdings, Inc.