Ethena, the crypto project behind one of the fastest-growing dollar-pegged digital assets, has raised $100 million in funding to expand its presence in traditional finance.
Ethena Raises $100 Million to Expand Crypto Stablecoin Offerings
The fundraising, which wrapped up in December, had not been previously disclosed and attracted major investors including Franklin Templeton and F-Prime Capital, the venture arm of Fidelity Investments, according to people familiar with the matter.
Ethena operates two major digital assets: ENA, a governance token that gives holders decision-making power over the protocol, and USDe, a stablecoin that has grown rapidly since its launch a year ago to become one of the largest in the world.
The new capital will support the introduction of a similar stablecoin specifically designed for corporate finance, marking a significant step in Ethena’s expansion strategy.
As the stablecoin market continues to evolve, Ethena aims to bridge the gap between crypto natives and traditional financial institutions by offering a regulated and scalable digital dollar alternative.
The $100 million raise underscores the growing interest of institutional investors in blockchain-based financial infrastructure and the growing role of stablecoins in the global economy.
*This is not investment advice.
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