Ethena Pay Taps into Daily Spending with New Self-Custodial App

Ethena Pay has launched its beta version of Ethena Pay, an iOS money app that uses Avalanche's settlement rails and puts USDe stablecoin directly into everyday spending. The app starts small with just 400 early users but plans to scale weekly through September.

The rollout spans 49 countries across Latin America, the Caribbean, Asia, the Middle East, Africa, and Oceania, excluding the United States, European Union, the United Kingdom, and Canada for now. This phased approach allows Ethena to stress-test its custody model, fiat rails, and reward mechanics on a smaller user base before scaling into regions with heavier compliance requirements.

Ethena Pay uses Avalanche as its exclusive settlement layer, handling transfers and payments tied to USDe balances. The app's self-custodial design keeps full responsibility for key management on individual users, removing counterparty risk but also shifting the burden of wallet security onto users.