Table of Contents
Ethena Labs, the team behind the $15B+ synthetic dollar USDe, has officially launched its Whitelabel Stablecoin-as-a-Service (SaaS) platform.
The new product allows any blockchain, protocol, or application to issue fully customized, yield-bearing stablecoins in weeks while leveraging Ethena’s audited delta-neutral hedging engine and multi-billion-dollar liquidity pools.
Key Takeaways
- Ethena Whitelabel enables rapid deployment of branded, cross-chain stablecoins with native yields
- Backing options include synthetic USDe (delta-neutral) and USDtb (BlackRock BUIDL tokenized Treasuries)
- Major 2025 adopters: Sui (suiUSDe/USDi), Jupiter Solana (JupUSD), MegaETH (USDm), Conduit, and Caldera
- Projects retain full branding, tokenomics, and governance control
- Total stablecoin market cap exceeds $300B; USDe already holds ~5% share
News Update
Ethena Labs confirmed the full public rollout of its Whitelabel Stablecoin-as-a-Service in September 2025, following months of private integrations.
The platform removes the traditional barriers to stablecoin issuance, regulatory complexity, reserve management, hedging operations, and liquidity bootstrapping, by providing a complete turnkey backend.
Projects can now launch their own dollar-denominated asset with custom ticker, logo, yield profile, and governance while inheriting Ethena’s battle-tested smart contracts and risk framework.
The core innovation remains Ethena’s delta-neutral strategy: long spot/crypto collateral paired with short perpetual futures positions to generate funding-rate yield without exposing holders to directional price risk.
Since launch, adoption has accelerated. Sui became the first Layer-1 to deploy two native variants in October 2025, suiUSDe (synthetic, yield-optimized) and USDi (nearly 100% backed by BlackRock’s BUIDL fund via USDtb).
Jupiter Exchange on Solana followed with JupUSD, set to replace $750M of existing stablecoin liquidity by Q1 2026. MegaETH introduced USDm, Conduit embedded the stack across 55% of Ethereum rollups, and Caldera added a dedicated Stablecoin Module for its metalayer chains.
Ethena CEO Guy Young described the vision as “stablecoin-as-a-service, not stablecoin-as-a-product,” emphasizing that issuers can now treat dollar liquidity as a revenue-generating utility rather than a cost center.
Conclusion
With regulatory momentum building, highlighted by the proposed U.S. GENIUS Act and growing institutional tokenized Treasury supply, Ethena’s Whitelabel positions itself as the infrastructure layer for the next generation of on-chain dollars.
By turning stablecoin issuance into a plug-and-play service, Ethena is accelerating the shift from centralized USDT/USDC dominance toward decentralized, programmable, and yield-bearing alternatives.
Read Next:
FAQs:
1. What is Ethena Whitelabel Stablecoin-as-a-Service?
A turnkey SaaS platform that lets projects launch branded, yield-bearing stablecoins using Ethena’s delta-neutral engine and audited contracts.
2. How do Whitelabel stablecoins generate yield?
Through Ethena’s delta-neutral hedging: long spot/staked assets + short perpetual futures, capturing perpetual funding rates and basis.
3. Which chains and projects have launched with Ethena Whitelabel in 2025?
Sui (suiUSDe, USDi), Jupiter Solana (JupUSD), MegaETH (USDm), Conduit rollups, and Caldera chains.
4. What are the backing options for Whitelabel stablecoins?
- USDe (synthetic delta-neutral)
- USDtb (tokenized BlackRock BUIDL U.S. Treasuries)
- Governance-approved blends
5. Is Ethena Whitelabel suitable for regulated or institutional issuers?
Yes. USDtb route offers near-100% short-term U.S. Treasury exposure; infrastructure is audited and partnered with Securitize and Anchorage.
6. How can my project integrate Ethena Whitelabel?
Apply at ethena.fi/products/whitelabel for documentation, technical integration support, and branding customization.
