building on a $16 million ENA purchase<\/a> and $20 million acquisition of USDe made earlier this year.<\/p>\nUSDe is a synthetic stablecoin designed to track the value of the dollar without holding traditional reserves. Instead, it uses a combination of collateralized stablecoins and futures contracts.<\/p>\n
The stablecoin\u2019s market capitalization has nearly tripled since early July from around $5.3 billion to now stand at $14.65 billion. Traditional stablecoins backed by cash and cash equivalents, including U.S. Treasurys, remain dominant, with the leader USDT having a $174.7 billion market capitalization.<\/p>\n
MEXC Ventures, the press release says, has already invested over $100 million in 40 investment projects. It has provided \u201cenhanced empowerment support\u201d to seven projects.<\/p>\n
“We view our role as ecosystem builders rather than passive investors,\u201d Leo Zhao, Investment Director of MEXC Ventures, said.<\/p>","protected":false},"excerpt":{"rendered":"
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