Coinbase Prime will provide custody, USDC, and self-custody wallet services for Ethena

ChainCatcher news, Coinbase Prime has been selected by Ethena Labs and the Ethena Foundation as the service provider for the Ethena protocol. Ethena is the first on-chain synthetic dollar protocol built on Ethereum.

According to the agreement, Coinbase Prime will provide custody, USDC, and self-custody wallet services for Ethena. Specifically, this includes: serving as the primary custodian for the ENA token, providing institutional-grade solutions for the core team of Ethena Labs and the Ethena Foundation; integrating the Prime Web3 wallet into the minting and redemption processes of the protocol to enhance infrastructure efficiency; Ethena will adopt USDC and expand its use in supporting the protocol.