Ethena Pay Brings USDe Payments to Avalanche with Up to 6% Yield

Ethena Labs has launched Ethena Pay, a self-custodial app that combines USDe balances with bank transfers, crypto transfers, and card spending. The beta is being rolled out in stages across 48 countries on iOS and Android.

Brazil, South Africa, Mexico, Kenya, Singapore, the Philippines, Japan, Australia, and the United Arab Emirates are among the markets included in the initial rollout. The U.S. and the EU are excluded from the initial release.

The app supports fee-free transfers between users through usernames or tags. Bank transfers in U.S. dollars, euros, and British pounds carry no fee, while transfers in other currencies are charged between 0.05% and 0.1%.