Crypto
$ENA Surges as Ethena Launches Internet Money Neobank
Ethena has launched Ethena Pay, an app that combines dollar savings, card spending, international transfers, and fiat onramps in one place.
The 'internet money neobank' offers a 6% interest rate on dollar savings and 5% cashback on card purchases.
Ethena's native token, $ENA, rallied 9% following the announcement, outperforming flat crypto markets.
The move extends Ethena's rapid expansion beyond its original yield-generating dollar business.