Ethena Unveils Self-Custodial Wallet on Avalanche With Up to 6% Rate
Ethena has launched its Ethena Pay app on the Avalanche blockchain, offering users a self-custodial wallet and Visa card. The beta version is initially available to 400 users, with plans to expand weekly throughout September.
The app supports 49 countries across various regions, including Latin America, Asia, and Africa. However, the U.S., European Union, U.K., and Canada are marked as coming later on Ethena's supported-country page.
Ethena Pay combines a self-custodial wallet with transfers, fiat onramps, and a Visa card issued by Third National in Puerto Rico and managed by Rain. The app allows users to hold, send, and spend USDe without selecting a blockchain network.
The total rate of up to 6% per year is made up of the prevailing underlying USDe rate plus a 'Daily Boost' contributed by Ethena Pay. However, this boost is capped at different tiers for standard users (5% on up to $5,000), pro users (6% on up to $15,000), and VIP users (6% on up to $50,000).