⚡ Guy Young has just launched Ethena $ENA Pay, a self-custody neobank on Avalanche $AVAX offering up to 6% APY to USDe holders.
On September 1, the app went live for users holding balances in USDe, providing an interest rate of up to 6% APY, along with a Visa cashback card of 4–5%, up to 10% at certain selected partners, paid in AVAX. Beta is live for roughly 400 users across 48–50 countries on iOS, excluding the U.S.; during the first two weeks, deposits reached the seven figures.
Why is it noteworthy?
USDe supply dropped from a peak of over $14 billion in October 2025 to $4–6 billion by the end of August 2026, forcing Ethena to pivot toward consumer finance.
Simply put:
Instead of letting the stablecoin issuer keep all the profits from Treasury bonds, Ethena Pay shares that yield directly with users.
#DeFi #CryptoNews
🔗 Source: Crypto Briefing
⚠️ Information is for reference only and is not investment advice. Please do your own research before making any decisions (DYOR).
On September 1, the app went live for users holding balances in USDe, providing an interest rate of up to 6% APY, along with a Visa cashback card of 4–5%, up to 10% at certain selected partners, paid in AVAX. Beta is live for roughly 400 users across 48–50 countries on iOS, excluding the U.S.; during the first two weeks, deposits reached the seven figures.
Why is it noteworthy?
USDe supply dropped from a peak of over $14 billion in October 2025 to $4–6 billion by the end of August 2026, forcing Ethena to pivot toward consumer finance.
Simply put:
Instead of letting the stablecoin issuer keep all the profits from Treasury bonds, Ethena Pay shares that yield directly with users.
#DeFi #CryptoNews
🔗 Source: Crypto Briefing
⚠️ Information is for reference only and is not investment advice. Please do your own research before making any decisions (DYOR).