Ethena will handle reserves, minting, redemptions and compliance for ether.fi USD, a token aimed at the more than $300 million in stablecoins already on ether.fi.
Ether.fi will launch ether.fi USD through the Ethena infrastructure, which will deal with reserves, issuance, refunds and compliance. The initiative seeks to incorporate its own stablecoin into a platform that already registers more than $300 million in stablecoins deposits and expands its payment services.