Recently, Coinbase Prime announced that it will provide a series of key services to the Ethena protocol. Ethena is the first on-chain synthetic US dollar protocol built on Ethereum. According to the agreement terms, Coinbase Prime will take on the primary custody responsibility for the Ethena tokens, providing institutional solutions to the core team and foundation of Ethena Labs. Furthermore, the Prime Web3 wallet will be integrated into Ethena's minting and redemption processes, aiming to enhance infrastructure efficiency. Ethena plans to utilize USDC and expand its applications within supported protocols.