Ethena has launched a global money app built around its USDe synthetic dollar, expanding the crypto-native asset into everyday payments, savings and cross-border transfers.
According to Tuesday’s announcement, the self-custodial Ethena Pay app allows users to hold USDe through a dollar-denominated balance, earn as much as 6% in annualized rewards and spend funds through a payment card, while supporting fiat onramps.
The beta rollout includes 48 countries across Latin America, the Caribbean, Africa, Asia and other regions, though the initial rollout is limited to 400 users, with access set to expand weekly, Ethena said in a Tuesday thread on X. Avalanche will serve as the exclusive settlement layer for payments and transfers.
Source: Ethena
Users can deposit fiat or crypto, with funds converted into USDe (USDe). The app enables using IBAN details to move money to and from external bank accounts into local currencies. MoonPay-owned Iron…
