Franklin Templeton Vet Takes Helm at StablecoinX Amid Ethena Ecosystem Growth
StablecoinX has appointed Christopher Jensen as its new CEO, replacing Ted Chen who will remain chairman of the company's board. Jensen was previously a digital asset executive at Franklin Templeton and helped build the firm's digital asset group after its launch in 2018.
As part of his role, Jensen will oversee StablecoinX's operations, including its large holding of Ethena's ENA token. The company holds approximately 3.03 billion ENA tokens, making it the largest corporate holder of the governance token.
Ethena issues USDe, a synthetic dollar that ranks as the fifth-largest stablecoin with nearly $4.4 billion in circulation, according to DefiLlama data. Ethena Pay, a self-custodial app launched by Ethena just a week ago, allows users to spend, save, and transfer its USDe synthetic dollar.