Ethena Pay Enters Beta with Up to 6% Reward Rates

Ethena Pay has launched its beta version for 400 early users, bringing USDe payments and Avalanche settlement to a self-custodial mobile app. The platform is available in 49 countries, excluding the U.S., EU, U.K., and Canada.

The app combines a self-custodial crypto wallet with bank transfers, fiat on-ramps, and a Visa payment card. A user's dollar balance is held in USDe, Ethena's synthetic dollar, while Avalanche processes transfers and settlement behind the app's consumer-facing interface.

Ethena Pay divides its balance rewards across Standard, Pro, and VIP tiers. Standard users can receive up to 5% on eligible balances capped at $5,000, while Pro users can earn up to 6% on a maximum eligible balance of $15,000, and the VIP tier applies the same rate to as much as $50,000.