Ethena Introduces Consumer Finance App with Digital Dollar Features

Ethena has launched Ethena Pay, a consumer finance app that allows users to manage digital dollars. The app combines stablecoin savings, card spending, transfers, and fiat onramps into one platform.

The service offers a 6% dollar savings rate and 5% cashback on eligible card purchases. ENA, the protocol's native token, rose about 9% after the announcement while the wider crypto market stayed flat.

Ethena Pay supports dollar, pound, and euro onramps, local currencies, and fiat IBANs linked to self-custodial stablecoin accounts. The app uses Avalanche as its exclusive settlement network for payments, transfers, and money movement.