Ethena's consumer app, which already pays up to 6% APY on dollar balances and offers a Visa virtual card, now lets users send money to anyone by username instead of a wallet address.

Transfers between Ethena Pay users are free and instant, with no borders or limits. The app is live on iOS, and the card can be added to Apple Pay, with Google Pay listed as coming soon.

Ethena says its infrastructure has paid out $750M+ in rewards to holders and processed $30B+ in mints and redemptions with zero loss of user funds.

Username payments put the app closer to fintech peers like Revolut and Wise, which Ethena benchmarks its yield against. Balances still depend on Ethena's synthetic dollar model, so returns are variable rather than guaranteed.