Crypto
Ethena Pay Live: Self-Custodial Money App Brings Cashback and Yield Features on Avalanche
Ethena Pay, a self-custodial money app developed by Ethena Labs, has gone live in beta. The app offers cashback and yield features for transactions and holdings.
Ethena Pay is built on top of the Avalanche (AVAX) chain and allows users to integrate with the USDe synthetic dollar vertically. It presents an alternative to default stablecoins used by most payment apps, such as Tether's USDT and Circle's USDC.
The app accepts fiat transfers using International Bank Account Number (IBAN) credentials and direct crypto payments. However, it automatically converts the funds to their corresponding values in USDe.