Ethena Launches Neobank Ethena Pay with Integrated Savings and Payments

Ethena, a cryptocurrency company, has launched its 'internet money neobank' called Ethena Pay. This new offering allows users to spend, save dollars, make international transfers, and even use 'Buy Now Pay Never' where savings rewards cover daily expenses.

The roll-out will be phased with an initial early access list of 400 users, which will increase weekly within supported regions as the product moves out of beta over the course of this month. This move is part of ongoing expansion efforts by the company beyond its $4 billion synthetic dollar token USDe.

Ethena Pay connects the company's savings products to payments, allowing users to hold savings, earn rewards, and then spend or transfer money through one app instead of shifting funds between a crypto wallet, exchange, and bank. This integration is part of the company's efforts to make its digital assets more accessible and user-friendly.