Ether.fi introduces native stablecoin powered by Ethena
Liquid staking protocol Ether.fi has launched its own dollar-pegged stablecoin, EtherFi USD, using Ethena's white-label infrastructure to turn over $300 million in platform deposits into native liquidity.
Liquid staking protocol and decentralized neobank Ether.fi has introduced a native dollar-pegged currency, EtherFi USD, built using synthetic dollar protocol Ethena's white-label infrastructure. Under the arrangement, the stablecoin is intended to be integrated into every product Ether.fi ships, while Ethena oversees reserve management, minting, redemption, delta-neutral yields, and compliance.[1][3][4]
The integration converts more than $300 million in existing stablecoin deposits already held across Ether.fi into native protocol liquidity. According to BSCN, the shift provides Ether.fi with an opportunity to retain float interest yield generated from user deposits rather than ceding those revenues to third-party stablecoin issuers. Crypto Briefing reported that the launch could also enhance staking and decentralized finance integration across Ether.fi's ecosystem.[1][2][3]
Ether.fi is not the first project to adopt the framework. According to Ethena, the protocol joins Maple, Jupiter, MegaETH, and Sui in developing stablecoins supported by its rails.[4]
Key facts
- Ether.fi has launched a native dollar-pegged stablecoin named EtherFi USD powered by Ethena's white-label infrastructure.
- Ethena handles reserve management, delta-neutral yields, minting, redemption, and compliance for the stablecoin.
- Ether.fi holds more than $300 million in stablecoin deposits across its platform that will convert into native protocol liquidity.
- The setup allows Ether.fi to capture float interest yield on deposits instead of ceding it to outside stablecoin issuers.
- The stablecoin is intended to be integrated into every product Ether.fi ships.
- Ethena stated that Ether.fi joins Maple, Jupiter, MegaETH, and Sui in building stablecoins using its infrastructure rails.
Sources · 4 sources
- TB
The Block@TheBlockCoPost on X ·
THE BLOCK: EtherFi is launching its own stablecoin, EtherFi USD, using Ethena's white-label infrastructure, with Ethena managing reserves, minting, redemption, and compliance. EtherFi currently holds more than $300 million in stablecoin deposits across its platform. ethereum:0xfe0c30065b384f05761f15d0cc899d4f9f9cc0eb ethereum:0x57e114b691db790c35207b2e685d4a43181e6061
Open source - CB
Crypto BriefingArticle ·
Ether.fi will launch its own stablecoin on Ethena’s whitelabel infrastructure Ether.fi's stablecoin launch could reshape its ecosystem, enhancing integration of staking and DeFi, while impacting stablecoin market dynamics. The post Ether.fi will launch its own stablecoin on Ethena’s whitelabel infrastructure appeared first on Crypto Briefing .
Open source - BS
BSCN@BSCNewsPost on X ·
Ethena is powering EtherFi's new stablecoin Liquid staking protocol & decentralized neobank @ether_fi officially unveils its native dollar-pegged currency, ether(.)fi USD, using whitelabel infrastructure from synthetic dollar protocol @ethena_labs. In this whitelabel arrangement, Ethena provides the entire process of reserve mangement, delta-neutral yields, and compliance. This instantly turns the $300M stablecoin deposits EtherFi already holds into native protocol liquidity. Additionally, it creates an opportunity for EtherFi to earn float interest yield on its user deposits instead of ceding it to stablecoin issuers.
Open source - CB
Crypto Banter@crypto_banterPost on X ·
🚨ETHERFI LAUNCHES A DOLLAR ON ETHENA! @ether_fi introduced https://t.co/YXJBOM48Ya USD, a dollar stablecoin powered by @ethena. https://t.co/YXJBOM48Ya already has more than $300 million in stablecoins on the platform. The new dollar is meant to sit inside every product it ships. Ethena says https://t.co/YXJBOM48Ya joins Maple, Jupiter, MegaETH, and Sui in building a stablecoin on its rails.
Open source