- Ethena’s $100M funding launches iUSDe targeting markets with secure digital assets.
- The USDe reached a supply of 6 billion, becoming the third largest after USDT and USDC.
- Ethena also partners with Telegram and political groups in order to expand services
Ethena, a crypto firm, has managed to raise $100 million to fund its entry into traditional finance. The funding round, completed in December, attracted shareholders, including Franklin Templeton and F-Prime Capital, the venture arm linked to Fidelity Investments. This huge investment supports the organization’s 2025 roadmap to connect decentralized finance with traditional financial systems.
Strategic Roadmap and Financial Product Expansion
The fresh capital will enable Ethena to expand its digital asset offerings and bridge DeFi with traditional finance (TradFi). A key part of this strategy is the introduction of iUSDe, a wrapped version of Ethena’s USDe stablecoin. This product aims to meet regulatory standards while appealing to traditional financial institutions.
Ethena seeks to partner with asset managers, private credit funds, and investment firms to boost iUSDe adoption. Moreover, the company’s USDe stablecoin has surged to a circulation of approximately 6 billion tokens, making it the third-largest stablecoin behind USDT and USDC. Ethena’s stablecoins yield up to 9% returns, though at one point returns spiked to 60% amid crypto market rallies.
To enhance accessibility, Ethena plans to integrate its financial products with the Telegram messaging platform, which serves over 900 million users. This integration will allow users to send, pay, and save using Ethena’s stablecoins, broadening its user base.
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Partnerships, Market Growth, and Revenue Milestones
Ethena has also expanded into centralized finance (CeFi), with about 60% of centralized exchanges now supporting USDe. Its supply has even surpassed USDC on platforms like Bybit. In December 2024, Ethena launched USDtb, a stablecoin backed by BlackRock’s BUIDL fund, to distribute financial benefits to exchange partners.
Political connections further strengthen Ethena’s market position. In December, the company partnered with World Liberty Financial, a crypto initiative backed by former U.S. President Donald Trump and his sons. Trump’s pro-crypto stance adds significant political weight to Ethena’s ambitions in both DeFi and TradFi sectors.
Despite ENA tokens initially selling for under $0.40, prices climbed to $1.30 in mid-December before dropping about 70%. Nonetheless, Ethena’s overall growth remains notable. By the end of 2024, its annual revenue exceeded $1.2 billion, making it the second-fastest crypto firm to reach $100 million in revenue, trailing only pump.fun.
Bridging Traditional and Decentralized Financial Systems
This funding round highlights growing confidence in Ethena’s ability to bridge decentralized and traditional financial systems. With substantial backing and strategic partnerships, Ethena aims to reshape how digital assets interact with global financial markets. The question remains: Can Ethena’s ambitious roadmap deliver long-term stability in a volatile crypto environment?
