Ethena Pay Takes Flight in 48 Countries With Up to 6% Yield and Cashback Rewards

Ethena Pay, a self-custodial neobank app built on Avalanche, has launched in beta across 48 countries. The app offers up to 6% APY on USDe savings and up to 10% cashback at partner brands like Uber and Spotify.

The app's membership tiers determine savings rates and card rewards. Standard membership is free and earns 5% APY on balances up to $5,000. Pro membership requires locking $2,000 worth of ENA or referring 10 users, earning 6% APY on balances up to $15,000.

Ethena founder Guy Young said the app solves the fragmentation between fiat and crypto financial services by using its own dollar token, USDe. The partnership with Avalanche reflects shared priorities around building invisible financial infrastructure.