Ethena launched Ethena Pay, its stablecoin neobank, on Avalanche, letting users hold a synthetic dollar and earn a 6% savings rate straight from the app.

The 6% is generated by sUSDe, Ethena's staked synthetic dollar, which pays a yield sourced from funding rates and reserve income. It now settles natively on Avalanche after USDe and sUSDe went live across the chain, with liquidity and lending support from venues like Uniswap, LFJ and Euler.

The move is Ethena's clearest step yet toward becoming a consumer neobank, bundling dollar savings, payments and yield into one app rather than a pure DeFi protocol.

Yield-bearing stablecoins are fast becoming the headline feature for onchain neobanks, with a wave of apps racing to pair everyday spending and savings against tokenized dollars.

Partner Offers | Get Your Instant BTC Cashback | Your Gateway To Crypto | Arcus Private Whitelist