Ethena Labs has joined forces with fintech firm UR Global to make its USDe stablecoin a key part of UR’s newly launched neobank platform.
Key Takeaways
- Ethena Labs and UR Global have partnered to integrate USDe into UR’s neobank app.
- Users across more than 45 countries can now hold, convert, and soon spend USDe like fiat.
- USDe holders on UR can earn up to 5% APY without staking or locking tokens.
- The platform removes off-ramp fees, supports major currencies, and will soon offer a Mastercard debit card.
What Happened?
Ethena Labs, the developer behind the synthetic dollar USDe, has officially partnered with UR Global to integrate the stablecoin into UR’s new neobank. This move aims to bring stablecoin-based savings, payments, and daily spending to a retail audience across over 45 countries.
We are excited to announce that Ethena has partnered with @UR_Global to bring USDe to everyday finance across 45+ countries via their neobank:
— Ethena Labs (@ethena_labs) October 7, 2025
• Up to 5% APY on USDe holdings
• Zero off-ramp fees for USDe-to-fiat conversion
• Available on iOS, Android and web
With direct… https://t.co/mUkhTlqAHn pic.twitter.com/IeESxPFTNI
A Seamless Bridge Between Crypto and Traditional Finance
UR Global’s neobank app, now live on iOS, Android, and web, combines crypto and fiat accounts in a single platform. Users can hold USDe alongside fiat currencies, convert between them without fees, and soon spend directly from their balances via Mastercard. This integration makes USDe accessible far beyond the DeFi ecosystem where it originated.
- The app features self-custody wallets secured by biometric authentication, powered by Turnkey.
- All transactions are recorded on the Mantle Network, ensuring on-chain transparency and auditability.
- UR supports multi-currency balances including USD, EUR, SGD, HKD, JPY, CHF, and RMB.
The new service promises to eliminate the friction that often accompanies crypto-fiat interactions. There are zero off-ramp fees when converting USDe to local currencies, and users can earn up to 5% APY on USDe holdings with rewards paid weekly. There is no need for staking or locking funds.
Mastercard Integration and Global Accessibility
UR users will soon be able to spend directly from their USDe balances using a Mastercard debit card compatible with major payment systems like Apple Pay, Google Pay, Alipay, WeChat Pay, and Samsung Pay. This makes stablecoin spending as convenient as using a traditional bank card.
New users who sign up and complete KYC verification between October 7, 2025, and January 6, 2026, will receive a three-month free Pro membership, including fee exemptions and higher transaction limits.
USDe’s Rapid Growth
USDe, launched by Ethena Labs, is a crypto-native synthetic dollar backed entirely by digital assets rather than fiat reserves. As of October 2025, it has a total value locked (TVL) exceeding $14.8 billion, making it the third-largest USD-backed stablecoin by market capitalization, according to DefiLlama.
Ethena has been on an expansion spree, recently teaming up with Binance to list USDe on its exchange and integrate it with Binance Earn. The UR Global partnership pushes that growth into the hands of everyday users.
CoinLaw’s Takeaway
I love what Ethena and UR are doing here. In my experience, the biggest hurdle for crypto adoption has always been the complexity and friction around using digital assets in everyday life. This partnership cuts through that. No off-ramp fees, real yields, and the ability to spend USDe like cash is exactly the kind of functionality that makes stablecoins useful, not just speculative. If UR’s execution matches the promise, this could be a model for how crypto-native assets finally break into global mainstream finance.
