Kraken has enabled USDe deposits and withdrawals through the Avalanche network. Exchange users can now move Ethena’s stablecoin on Avalanche without first relying on another supported blockchain.

The new route expands USDe accessibility on a centralized venue and creates a more direct connection between exchange liquidity and Avalanche applications. Users must select the Avalanche network when transferring the asset, since sending funds through an incompatible route can result in loss.

USDe follows a synthetic-dollar model backed by collateral and crypto-market hedging, making it different from conventional stablecoins fully supported by bank reserves. Kraken’s update adds network-level deposit and withdrawal support rather than changing how USDe is issued or managed.