Ethena Launches Global Payments App for USDe Stablecoin

Ethena has launched a global payments application centered on its USDe synthetic dollar, marking a significant expansion of the cryptocurrency protocol into everyday financial services. The self-custodial Ethena Pay app, announced on September 1, 2026, allows users to hold USDe in a dollar-denominated balance, earn annualized rewards of up to 6%, and spend funds via a payment card, while supporting fiat onramps and cross-border transfers.

The beta rollout initially covers 48 countries across regions including Latin America, the Caribbean, Africa, and Asia, though access is limited to 400 users at launch, with plans to expand weekly. The United States and the European Union are excluded from the initial release, but Ethena has stated it expects to add them, along with Canada, Taiwan, and South Korea, during the beta period, subject to regulatory approval. Avalanche has been selected as the exclusive settlement network for all payments, transfers, and money movement within the app.

Users can deposit fiat currency or cryptocurrency, with funds converted into USDe. The app provides International Bank Account Number (IBAN) details to facilitate moving money to and from external bank...