Cloudbet Integrates Ethena USDe (sUSDe) Stablecoin and ENA Tokens

Willemstad, Curaçao, Netherlands, June 27th, 2024

Cloudbet, a prominent cryptocurrency casino and sportsbook, has announced the integration of Ethena USDe (sUSDe) and ENA into its platform. This innovation allows users to earn returns on their sUSDe even when their funds are not actively wagered.

This development enhances financial flexibility and efficiency for Cloudbet users, as deposited funds typically remain idle until bets are placed. However, with the introduction of sUSDe, the staked version of the algorithmic stablecoin USDe, the betting landscape is being transformed, establishing a new standard for user-focused innovation.

"Whether a user is betting or taking a break, their sUSDe continues to earn a yield," stated a Cloudbet spokesperson. "Users can potentially offset their betting costs or enhance their bankroll, generating value beyond their betting activities on the platform."

The decision to incorporate Ethena’s USDe, sUSDe, and ENA stems from a comprehensive evaluation of the cryptocurrency landscape and consultations with the broader crypto community. After discussions with several leading figures in the digital currency sector, it became evident that this opportunity was essential.

Integrating Ethena tokens and ENA, the governance token for the Ethena protocol that launched at $0.55 in April 2024, reflects Cloudbet’s proactive, crypto-native approach to innovations in the space.

"We, like many in the crypto community, are drawn to Ethena and the concept of Internet Native Yield," the Cloudbet spokesperson added. "USDe’s underlying mechanics provide an advantage over the most popular stablecoins, allowing users to stake USDe for sUSDe and access the protocol’s generated yield. This offers our users a superior edge over other bettors, making it a priority in our product development."

As of June 27, 2024, the yield for sUSDe stands at 10.1%. Additionally, Cloudbet is expanding its commitment to crypto-friendly online gaming by adding support for multiple blockchain networks, including TON and Base.

About Cloudbet

Since its establishment in 2013 as the world’s first crypto-friendly sportsbook and casino, Cloudbet has become a pioneer in crypto betting. The platform has catered to hundreds of thousands of users, placing millions of bets, and has earned a reputation as a secure, trusted, and VIP-friendly brand in crypto gaming.

Cloudbet allows users to wager with over 30 cryptocurrencies, including popular options and stablecoins like USDC and USDT. The site is accessible in 18 languages, including Spanish, German, Italian, French, and Japanese.

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