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Ethena - Strategic
Overview
Funding Date
March 12, 2025
Financing amount
$16M
Valuation
--
Category
Subcategory
About Ethena - Strategic
MEXC Ventures is investing $36 million in Ethena and its USDe stablecoin to boost the adoption of synthetic dollars in decentralized finance (DeFi).
Unlike traditional stablecoins, USDe is a synthetic stablecoin that is not backed 1:1 by fiat assets but maintains its value by collateralizing other stablecoins and taking futures positions.
MEXC's investment comes amid increasing competition in the stablecoin market, with Ethena is seen as a key player in developing diverse stablecoins that will drive broader adoption of cryptocurrency.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | Argentina | 2018 | 75 | [email protected] |
Founders & Team
Guy Young
Company Profile / Project Introduction
Ethena is a startup developing the first-ever ‘internet bond’ and a new Ethereum-based stablecoin secured by derivatives. Founded earlier this year, Ethena aims to address the need for accessible, permissionless dollar-denominated savings instruments beyond the US. The firm is working to develop two new products for investors operating outside of the US:
- A US dollar stablecoin with a novel mechanism for maintaining its peg that will enable it to operate entirely independently of the traditional financial system; and
- The first-ever digitally native savings bond.