Ethena Unveils Ethena Pay: A Global Money App for USDe Stablecoin

Ethena has expanded its services beyond synthetic-dollar trading with the launch of Ethena Pay, a self-custodial 'global money app' designed to make its USDe stablecoin usable for everyday payments, savings, and cross-border transfers.

The app allows users to deposit fiat or crypto, which is then converted into USDe to create a dollar-denominated balance. This balance can be spent via a payment card or used for external transfers using IBAN details.

Ethena Pay's exclusive settlement layer for payments and transfers is Avalanche. The company has launched the app in a limited beta across 48 countries, initially available to 400 users, with access expanding weekly.