Ethena is taking USDe directly to consumers with Ethena Pay, a self-custodial money app offering savings rewards, global transfers, and card spending.
Ethena Pay Goes Live: Ethena launched Ethena Pay, a self-custodial neobank built on Avalanche. The app lets users hold USDe, earn rewards, spend through Visa, and send fiat or crypto globally. The beta starts with 400 users across 49 countries, with the U.S., EU, U.K., and Canada coming later.
Tiered Rewards: Standard users earn 5% on up to $5K with 4% cashback, while Pro and VIP offer 6% yields with higher balance limits and up to 5% cashback. Cashback is paid in AVAX.
New ENA Utility: Users can unlock Pro by locking $2K of ENA or referring 10 users, while VIP requires $10K of ENA or 50 referrals, tying ENA directly into Ethena Pay's rewards system.
Ethena's Busy Week: The launch follows several ENA-focused changes, including investor lockup restructuring, a proposed ENA buyback mechanism, and plans to expand USDe's basis trade into equity perps. Ethena Pay now adds a consumer distribution layer for USDe while creating another use for ENA.
#cashback #custodial
Ethena Pay Goes Live: Ethena launched Ethena Pay, a self-custodial neobank built on Avalanche. The app lets users hold USDe, earn rewards, spend through Visa, and send fiat or crypto globally. The beta starts with 400 users across 49 countries, with the U.S., EU, U.K., and Canada coming later.
Tiered Rewards: Standard users earn 5% on up to $5K with 4% cashback, while Pro and VIP offer 6% yields with higher balance limits and up to 5% cashback. Cashback is paid in AVAX.
New ENA Utility: Users can unlock Pro by locking $2K of ENA or referring 10 users, while VIP requires $10K of ENA or 50 referrals, tying ENA directly into Ethena Pay's rewards system.
Ethena's Busy Week: The launch follows several ENA-focused changes, including investor lockup restructuring, a proposed ENA buyback mechanism, and plans to expand USDe's basis trade into equity perps. Ethena Pay now adds a consumer distribution layer for USDe while creating another use for ENA.
#cashback #custodial
2 months ago
