Ethena Pay Unleashes Programmable Money on Avalanche

Ethena Pay has launched on Avalanche, targeting neobanks and aiming to bridge traditional banking functions with programmable money.

The app, available in over 50 countries, allows users to hold balances, transfer funds, and make purchases via Visa's network without interacting directly with blockchain mechanics. With over $30 billion already processed through Ethena's mint and redemption systems and USDe integrated across more than 100 platforms, the app leverages Avalanche's high-speed, low-cost, and scalable infrastructure for seamless transactions.

Avalanche's modular design supports this approach, allowing C-Chain to handle Ethereum-compatible smart contracts while Subnet architecture enables customized validator sets and compliance rules. This 'embedded finance' model allows Ethena, and potentially other neobanks, to build user-focused products while relying on Avalanche for backend efficiency.