Ethena launches payment app on Avalanche blockchain
Business · 2 September 2026
Written by AI from multiple news reports
Ethena launched a new mobile payment app called Ethena Pay on September 1, 2026. The app runs on the Avalanche blockchain and lets users pay for things with a card using USDe, a digital dollar stablecoin. Users can also send money across borders. The app started in beta with 400 users and will grow slowly over time. Cashback rewards go up to 5-6%, depending on how much a user spends each month. On the day of the launch, Ethena's ENA token rose 8-10% in price, with around $600 million traded in 24 hours. The token had already gained 68% in the month before. Ethena created USDe mainly for trading, but this app brings it into everyday spending.