Ethena USDe (USDe) is a synthetic dollar built by Ethena from short-perpetual and spot-crypto positions rather than bank deposits, with its peg maintained by funding flows rather than fiat redemption. On U.CASH, USDe sits in the partner-rail tier: buy it with card or bank and sell it back to fiat through the on-ramp network, delivered to your own wallet on Ethereum. Availability varies by provider and region.
Straight into the app: Swap USDe · Buy USDe · Sell USDe · Get UCASH with USDe
ERC-20 on Ethereum (issuer: Ethena). Settlement is non-custodial, on-chain to a wallet you control. Confirmation policy: Follows Ethereum (~12 confirmations).
A single U Account works across accept, swap, and buy. Pick where to start.
Take USDe in checkout alongside cards on 35 networks. White-label, non-custodial, live in minutes.
Trade USDe for any asset across the network, routed for the best price.
Get USDe with any asset you hold, one step, settled to your wallet.
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Two things and you are ready. A wallet that can hold Ethena USDe and a little USDe for gas on its chain, and the receiving address you want the output delivered to, which can be a raw address or a web3 name where the wallet resolves one. The preview shows the full picture before anything is signed: what leaves, what arrives, the fee, and the network cost. Nothing in the flow asks you to hand over keys; the wallet stays yours and signs only what you approved on screen.
The cost picture is two lines. The platform side is a flat 0.50% all-in on the swap, quoted before you sign, with no spread and no routing cut behind it. The network side is gas paid in USDe, settling with settles with Ethereum blocks on ERC-20 on Ethereum (issuer: Ethena), which the preview itemizes per leg. Settlement is on-chain to the address you chose: Follows Ethereum (~12 confirmations) on this asset, after which the balance is spendable and non-custodial in the fullest sense, yours to move with no platform in the path.
Underneath, the swap engine executes the trade with all-or-nothing semantics: partial fills do not exist here, and a route unable to meet the bounds you approved reverts the whole transaction rather than settling something worse. Your exposure window between legs is therefore zero, the only cost of a failed attempt is its gas, and re-quoting is a click.
One account unlocks accept, swap, buy, and the rest of the U.CASH network across 35 networks.