Kabu Adds Ethena’s ENA Token as Collateral for USD Coin Loans

Kabu added Ethena’s ENA token as collateral for USD Coin (USDC) borrowing, giving holders a new lending option through the platform that broadens the token’s use beyond protocol governance.

The collateral option is available immediately. Borrowers pledge ENA to obtain USDC, while the token also carries governance rights in the Ethena protocol.

Kabu previously opened USDC borrowing against Uniswap’s UNI token in its lending markets. The ENA addition expands the tokens borrowers can pledge on the platform.