Ethena Raises $100M to Build TradFi-Focused Blockchain Token

Ethena Labs, issuer of the USDe "synthetic dollar" stablecoin, raised $100 million in funding to launch a new cryptocurrency and blockchain aimed at traditional finance use cases. Major investors – including Franklin Templeton, Fidelity's F-Prime Capital, and others – joined the private token sale, valuing Ethena's governance token ENA at $0.40.

ENA spiked to $1.30 in secondary markets in December on news of the raise. Ethena plans to use the proceeds to develop its own blockchain and a token geared for TradFi integration, potentially bridging regulated financial institutions into DeFi. The firm is also partnering with Trump-linked World Liberty Financial to integrate its stablecoin into lending platforms.

Source: Cointelegraph – Ethena raises $100M to launch new token (USDe issuer)