TechFlow News, June 3: According to The Block, Ethena Labs and Anchorage Digital have announced a partnership under which Anchorage will serve as the collateral manager for Ethena’s institutional lending business via its Atlas collateral management platform. Under the agreement, institutional borrowers can obtain loans while retaining their assets in Anchorage custody—without fully transferring collateral on-chain. The Atlas platform will provide real-time collateral and loan threshold monitoring, automated margin processes, and rule-based operational execution.
This collaboration forms part of Ethena’s USDe reserve reform initiative launched in April this year, aimed at reducing reliance on perpetual futures and transitioning toward an over-collateralized institutional lending model. Additionally, Anchorage Digital Bank previously served as the U.S. issuer for Ethena’s institutional-grade stablecoin USDtb.
