EtherFi to Launch Stablecoin via Ethena White-Label Service

EtherFi has announced plans to launch its own stablecoin through Ethena’s white-label service. The decentralized finance protocol aims to expand its stablecoin business, leveraging over $300 million in stablecoin deposits. Details about the launch timeline and the name of the new stablecoin were not disclosed.

According to a report by Cointelegraph on October 6, EtherFi is set to introduce a proprietary stablecoin based on Ethena’s white-label solution. The move comes as part of EtherFi’s strategy to strengthen its presence in the stablecoin market. The white-label service provided by Ethena allows other projects to create and manage their own stablecoins with ease.