Ethena’s synthetic dollar token USDe is now live on Mercado Bitcoin, giving Brazil’s largest digital asset exchange a new entry point into the fast-growing stablecoin market. The listing, announced on June 5, targets rising demand for dollar-pegged assets across Brazil and the broader Latin American region.

With a market cap hovering around $4.5 billion, USDe is becoming a fixture on major centralized platforms, and the Mercado Bitcoin listing puts it in front of one of the most active crypto user bases in the Southern Hemisphere.

Why Brazil, why now

Mercado Bitcoin, founded in 2013, has been the dominant on-ramp for Brazilian crypto users for over a decade. The exchange reached unicorn status after a 2021…