Ethena launches USDe payments app, offers 6% rewards

Written by Nate Kostarstaff writerReviewed by Robert Lakinstaff editorWritten by Nate Kostarstaff writerReviewed by Robert Lakinstaff editorEthena launches USDe payments app, offers 6% rewardsLatest NewsPublishedSep 1, 2026The self-custodial app brings USDe into everyday payments, savings and cross-border transfers, with annualized rewards of up to 6%.Ethena has launched a global money app built around its USDe synthetic dollar, expanding the crypto-native asset into everyday payments, savings and cross-border transfers.According to Tuesday’s announcement, the self-custodial Ethena Pay app allows users to hold USDe through a dollar-denominated balance, earn as much as 6% in annualized rewards and spend funds through a payment card, while supporting fiat onramps.The beta rollout includes 48 countries across Latin America, the Caribbean, Africa, Asia and other regions, though the initial rollout is limited to 400 users, with access set to expand weekly, Ethena said in a Tuesday thread on X. Avalanche will serve as the exclusive settlement layer for payments and transfers.Source: EthenaUsers can deposit fiat or crypto, with funds converted into USDe (USDe). The app enables using IBAN details to move money to and from external bank accounts into local currencies. MoonPay-owned Iron provides backend infrastructure.Ethena Pay is not initially available in the US, EU, Canada, Taiwan or South Korea, though Ethena expects to expand into those markets during the beta, subject to regulatory approval.Related: Chelsea FC gets a stablecoin sponsor after UK FCA warning to clubsEthena’s USDe grows as ENA ralliesEthena is an Ethereum-based protocol behind USDe, a synthetic dollar designed to maintain its value near $1 without relying on traditional banking infrastructure.USDe uses crypto collateral alongside hedging strategies, including derivatives positions, to help maintain its peg. The asset has grown to a market capitalization of about $4.1 billion, making it the sixth-large…

Ethena launches USDe payments app, offers 6% rewards

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