Share this article
StablecoinX Secures $530M Investment to Back Ethena-Linked Treasury
The funds will be used to acquire an expected 3 billion ENA, according to StablecoinX, a dedicated treasury vehicle for the stablecoin protocol.
Sep 6, 2025, 3:26 p.m.
What to know:
- StablecoinX and TLGY Acquisition Corp. have announced they secured $530 million in financing, expanding their war chest to $890 million.
- The funds will be used to acquire an expected 3 billion ENA, according to the edicated treasury vehicle for the stablecoin protocol, with investors including Brevan Howard, Susquehanna Crypto, and Dragonfly.
- The Ethena Foundation is matching the effort with a $310 million buyback program.
Stablecoin X Assets Inc. and TLGY Acquisition Corp. have announced they secured $530 million in new private investment in public equity (PIPE) financing, expanding their war chest to $890 million.
The raise comes as the firms prepare to merge and list on the Nasdaq under the StablecoinX name under the ticker “USDE.” The funds will support a long-term treasury strategy built around Ethena’s ENA token.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
StablecoinX is expected to hold more than 3 billion ENA, the companies said, adding that the company is expected to be the first dedicated treasury vehicle for the stablecoin protocol.
Investors include Brevan Howard, Susquehanna Crypto, and IMC Trading, alongside repeat backers Dragonfly and ParaFi.
The Ethena Foundation is matching the effort with a fresh $310 million buyback program, bringing total announced purchases to $570 million. Proceeds will be used to acquire ENA on public markets.
To align their strategy with market structure, StablecoinX formed a new advisory board chaired by Rob Hadick of Dragonfly.
The board will focus on governance, partnerships, and long-term shareholder value as the company links public equity capital with Ethena’s token economy. The deal is slated to close in the fourth quarter.
Meanwhile, ArkStream Capital has announced it invested $10 million in Ethena Labs, building on an initial $5 million investment made late last year.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Больше для вас
Что нужно знать:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
