Ethena Launches Pay App on Avalanche Across 48 Countries

Ethena Labs is extending its synthetic dollar USDe beyond crypto trading and yield products with Ethena Pay, a self-custodial money app built on the Avalanche blockchain. The service combines savings, card spending and payments in an effort to move stablecoins into everyday banking while allowing users to retain control of their assets. The rollout marks a push by Ethena to broaden USDe’s utility in consumer finance.

The Ethena Pay beta has launched in 48 countries, offering users an annualized yield of as much as 6% and cashback rewards of up to 10%. One report cited a 5% card-spending reward, suggesting the maximum benefit may depend on the transaction type or promotional terms. Ethena Labs did not provide a date for the full public release in the supplied reports.