Ethena Pay Taps Avalanche for Beta Launch with USDe Rewards and Crypto Cashback

Ethena Pay has launched its beta on Avalanche, introducing USDe Yield and Crypto Cashback.

The app pairs a dollar-denominated balance with daily rewards and AVAX-denominated cashback, although benefits are limited by account tier and qualifying spending.

The rollout is an effort to give USDe a payments use case beyond holding or trading. The beta combines the balance with card payments and a rewards program, supporting transfers, bank withdrawals, and virtual Visa card payments while users retain custody of their assets.