Ethena is making significant strides in the cryptocurrency market with the launch of its native stablecoin USDm on the MegaETH network, aiming to reduce blockchain fees and enhance transaction speed. Additionally, Ethena Labs is set to introduce the USDtb stablecoin in the U.S. in collaboration with Anchorage Digital, following the recent passage of a stablecoin law. Meanwhile, StablecoinX and TLGY Acquisition Corp. have secured $530 million in PIPE financing, boosting their treasury to $890 million as they prepare for a Nasdaq listing, highlighting strong investor confidence in Ethena's potential. However, Ethena faces regulatory challenges, as evidenced by its withdrawal from the German market due to compliance issues with its USDe stablecoin, as cited by BaFin. These developments underscore Ethena's ambitious expansion plans and the regulatory hurdles it must navigate to succeed in the evolving stablecoin landscape.
Ethena's Bold Moves: The Future of Stablecoins in DeFi
September 09, 2025
1 min read
Ethena is making significant strides in the cryptocurrency market with the launch of its native stablecoin USDm on the MegaETH network, aiming to reduce blockchain fees and enhance transaction speed. Additionally, Ethena Labs is set to introduce the USDtb stablecoin in the U.S. in collaboration with Anchorage Digital, following the recent passage of a stablecoin law. Meanwhile, StablecoinX and TLGY Acquisition Corp.