PANews reported on June 3rd that, according to The Block, Anchorage Digital has expanded its Atlas collateral management platform through a new partnership with Ethena Labs. Under the agreement, Anchorage will act as the collateral manager for Ethena's institutional lending business, enabling Ethena to provide loans to institutions wishing to deposit assets in Anchorage custody without requiring the collateral to be fully on-chain. Atlas will provide real-time monitoring of collateral and loan thresholds, automated margin processes, and rule-based operations. Ethena began shifting to overcollateralized institutional lending in April as part of a major reform of the USDe reserve aimed at reducing USDe's reliance on perpetual futures.