Ethena Targets Banking With a Surprising Stablecoin Push

TLDR Ethena launched Ethena Pay, a consumer finance app combining stablecoin savings, card spending, transfers, and fiat onramps. The app offers a 6% dollar savings rate and 5% cashback on eligible card purchases. ENA rose about 9% after the announcement, outperforming a broadly flat crypto market. Ethena selected Avalanche as the exclusive settlement network for [...]

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