Ethena Pay Brings Avalanche Beta with USDe Rewards and AVAX Cashback

Ethena Pay has launched its Avalanche beta, offering users a self-custodial payments and money app built exclusively on the network. The app pairs a dollar-denominated USDe balance with daily rewards and AVAX-denominated cashback.

The rollout is an effort to give USDe a payments use case beyond holding or trading. Ethena Pay says the app supports transfers, bank withdrawals and virtual Visa card payments, while users retain custody of their assets.

The beta combines that balance with card payments and a rewards programme. According to Ethena Pay, it is self-custodial and built exclusively on Avalanche, so those payment and rewards functions initially run on one network rather than several.