Ethena has reached a USDe redemption agreement with German regulatory authorities, officially exiting the EU market Ethena Labs has reached an agreement with the German Federal Financial Supervisory Authority (BaFin) to initiate a 42 day redemption process for USDe stablecoin holders. BaFin stated that USDe holders need to declare redemption to Ethena GmbH before August 6th, and any related claims after the deadline will be handled by its offshore affiliate Ethena (BVI) Ltd. This agreement marks the official end of a four month regulatory dispute between the two parties, and Ethena GmbH will be officially liquidated in Germany, the European Union, and the European Economic Area. It is unknown whether it will return to the EU market in the future.