Portuguese crypto startup, Ethena, secured $6 million in seed funding for its upcoming stablecoin and bond asset launch. Ethena’s notable funders include Dragonfly, Arthur Hayes, and major industry players like BitMEX and Gemini. The stablecoin, named USDe, promises to maintain stability, with a focus on decentralization and capital efficiency.
Search Results for: Ethena
Ethena Raises $6M to Launch Ethereum-based Stablecoin: A New Face of Crypto Stability or Overhype?
Ethena, a Portugal-based startup, recently raised $6 million in seed funding to develop a novel Ethereum-based stablecoin and an online savings bond. Influential contributors involved include BitMEX founder Arthur Hayes and crypto derivatives exchanges like Deribit and Bybit. Ethena’s unique stablecoin features on-chain custody, settlement, and user-provided collateral in perpetual swaps against Ethereum.