Ethena Pay Launches USDe Rewards App in Multi-Country Beta

Ethena has launched Ethena Pay, a crypto-native payments app that allows users to earn up to 6% annualized rewards on their USDe stablecoin balance. The self-custodial app is designed for everyday payments, savings, and cross-border transfers.

The beta version of the app will start with 400 users in 48 countries, including Latin America, the Caribbean, Africa, and parts of Asia. However, access to Ethena Pay is restricted to certain regions, excluding the US, EU, Canada, Taiwan, and South Korea.

Ethena has chosen Avalanche as the exclusive settlement layer for payments and transfers on its app. This decision aims to provide a seamless user experience for cross-border transactions.