Published • loading... • Updated
Ethena Expands USDe Into Global Payments with New App
- On Tuesday, Ethena released Ethena Pay on Apple's App Store, a consumer finance application that packages stablecoins into a service resembling a traditional bank account by connecting savings products directly to payments.
- This launch represents a significant expansion for Ethena, moving beyond the crypto basis trade that originally powered yields on its $4 billion synthetic dollar token, USDe.
- The firm pitches the product as an "internet money neobank," offering a 6% dollar savings rate and 5% cashback on card purchases, while supporting IBANs linked to self-custodial stablecoin accounts.
- ENA, Ethena's native token, rallied 9% following the announcement, outperforming flat crypto markets and indicating investor interest in the firm's transition to consumer-facing financial tools.
- Earlier this year, Ethena introduced a savings product via Coinbase, reaching more than 100 million users, while last week the project overhauled ENA token economics and outlined equity perpetual plans for USDe returns.
Insights by Ground AI
19 Articles
19 Articles
Ethena, the company behind the US$e synthetic stablecoin, took her digital currency out of the trading and exchange perimeter and let it enter into daily payments. With the launch of Ethena Pay on Avalanche, the team led by Guy Young opened the beta iOS of a payment app [...]
Coverage Details
Total News Sources19
Leaning Left0Leaning Right0Center4Last UpdatedBias Distribution100% Center
Bias Distribution
- 100% of the sources are Center
100% Center
C 100%
Factuality
To view factuality data please Upgrade to Premium
