Ethena Labs will connect to Cobo's over-the-counter custody and settlement network SuperLoop

ChainCatcher news, the developer of the synthetic dollar USDe based on Ethereum, Ethena Labs, announced a partnership with digital asset custody solution provider Cobo to integrate with Cobo's over-the-counter custody and settlement network, SuperLoop. After integrating with Cobo SuperLoop, when a user mints USDe, Ethena's internal hedging system will open a short position on the exchange to hedge against the Delta risk brought by the user's assets.

It is reported that Cobo SuperLoop is an over-the-counter custody and settlement network for exchanges, allowing trading teams to use collaborative custody based on multi-party computation (MPC) technology to maintain full control over assets during exchange trading, thereby eliminating counterparty risk and mitigating potential security issues and fund misuse problems.