Ethena Unveils Ethena Pay, Global Payments App with USDe Synthetic Dollar

Ethena has introduced Ethena Pay, a global payments app that allows users to hold and use USDe, a synthetic dollar designed for everyday transactions. The app offers a range of features, including rewards programs and cross-border transfers.

The beta rollout of Ethena Pay began with 400 users in limited regions and will expand weekly across 48 countries. The app is not initially available in the US, EU, Canada, Taiwan, or South Korea due to regulatory restrictions.

Ethena has chosen Avalanche as its exclusive settlement layer for payments and transfers within Ethena Pay. This decision aims to reduce friction points associated with stablecoin-based payment products.