Ethena, a synthetic dollar protocol, is making significant strides in the cryptocurrency market through strategic partnerships and investments. The protocol is set to launch native stablecoins, USDi and suiUSDe, on the Sui blockchain, backed by a collaboration with SUI Group and BlackRock's tokenized fund. This move is complemented by substantial financial backing, including a $66 million investment from MEXC Ventures and a $20 million investment from M2 Capital, highlighting growing institutional interest and confidence in Ethena's potential.
Further bolstering Ethena's position, YZi Labs has deepened its stake to promote the adoption of Ethena's stablecoin, USDe, across various chains and platforms. The Ethena Foundation is also preparing a governance vote on a revenue-sharing framework for ENA token holders, indicating a focus on sustainable growth and community engagement. These developments underscore Ethena's expanding influence in the stablecoin market and its potential to drive broader cryptocurrency adoption.
Ethena: Revolutionizing the Stablecoin Ecosystem
October 02, 2025
1 min read
Ethena, a synthetic dollar protocol, is making significant strides in the cryptocurrency market through strategic partnerships and investments. The protocol is set to launch native stablecoins, USDi and suiUSDe, on the Sui blockchain, backed by a collaboration with SUI Group and BlackRock's tokenized fund.