Ethena Unleashes Digital-Dollar App on Avalanche
Ethena has launched Ethena Pay, a mobile financial app that combines traditional accounts with digital-dollar balances held in $USDe. The app allows users to move between fiat and digital dollars locally and globally, transfer funds, and make purchases through Visa's network of over 130 million merchants.
The launch builds on Ethena's earlier work bringing $USDe into payments and gives the protocol a direct channel to put the stablecoin to work in recurring activity. The app is built exclusively on Avalanche, which handles $USDe transfers, payments, and settlement behind the scenes while users see a familiar consumer experience.
Ethena founder Guy Young framed the move as a bet on tokenized assets, highlighting Avalanche's focus on RWAs (Restricted Wallet Assets) and tokenized assets before others were talking about them. The launch aims to direct the company's scale toward everyday payments and savings.