Ethena News: Ethena Pay launches USDe digital banking on Avalanche

Ethena Information: Ethena Pay was launched on Avalanche to create USDe digital bank.

Ethena has officially entered the field of daily payments, allowing digital dollars to flow like ordinary cash.

On September 1, 2026, the agreement behind USDe stablecoins launched a mobile application exclusively on Avalanche, allowing users to hold, send and consume digital dollars like ordinary cash. This issue of Ethena will explain in detail how the app works, market reactions, and new features that will be launched in the coming weeks.

Ethena Pay has exclusive access to the Avalanche network

This new mobile financial product is built entirely on Avalanche and aims to integrate digital dollars into daily consumption, savings and transfer scenarios. The Avalanche blockchain handles all transfers, payments and settlements in the background. Users only need to operate through a simple interface and do not have to touch complex blockchain technology.

Avalanche's high speed and low transaction costs provide the app with the infrastructure layer needed by a new type of bank, without users having to manage wallets, mnemons or pay Gas fees. The service is already available on iOS platforms in about 50 countries, and Android versions, services in the U.S. and European Union, and multi-currency account features are expected to be available soon.

For those who are concerned about the evolution of stablecoins from trading tools to daily payment tools, this is undoubtedly big news for Ethena.

Sending, saving and spending within one app

The app combines traditional accounts with USDe balances, allowing users to seamlessly switch fiat and digital dollars between local and cross-border. Core functions when launched include:

● Transfer funds immediately and free of charge to other app users, and withdraw funds to external wallets or bank accounts
● Push notifications in real time to track every transfer
● USDe balances automatically earn interest every day without requiring pledge or locking
● Generate a virtual Visa card within one minute and can be used wherever Visa is accepted around the world
● Support Apple Pay immediately online, Google Pay is about to launch

For daily users who pursue simple, fee-free banking services, this is undoubtedly the most watched part of this issue of Ethena's news.

Visa Card Spending and AVAX Cash Back Levels

You can get cash back from Avalanche's native token AVAX instead of USDe when you spend with a Visa card. Standard users can get 4% cash back for the first US$2,500 of each month, professional users can get 4.5% cash back for the first US$8,000 of each month, and VIP users can get up to 5% cash back for the first US$20,000 of each month. The excess within the same month is calculated at a lower proportion.

Consumption cards are temporarily not available to U.S. users, and users must be 18 years old or older to register. This is a noteworthy qualification condition in Ethena's information.

Detailed explanation of daily USDe rewards and mark-up rates

The most eye-catching reward is an annualized rate of return of up to 6% on the USDe balance, which is paid out daily. The interest rate is the total annualized rate of return and consists of a floating USDe base rate plus a discretionary subsidy called a "daily mark-up" that is adjusted based on real-time changes in the base rate.

The maximum mark-up balance for standard accounts is US$5,000, with a 5% interest rate; the maximum mark-up balance for professional accounts and VIP accounts is US$15,000 and US$50,000, respectively, with a 6% interest rate. Balances exceeding the cap can still enjoy the full base interest rate. The bonus rate can be unlocked only by completing at least one eligible consumer card transaction per month.

Guy Young talks about why he chose Avalanche

Etha founder Guy Young said that Avalanche's early focus on physical assets and tokenized markets enabled the new app to directly connect to existing ecosystem liquidity while providing services to users through an interface that does not require direct access to DeFi.

USDe's foundry and redemption system has processed more than US$30 billion in transactions without loss of user funds, has paid more than US$750 million in rewards to holders, and has achieved more than 100 platform integrations including Robinhood's crypto revenue products and BlackRock's Aladdin platform, which manages approximately US$25 trillion in assets.

ENA Market Reaction: Price, Trading Volume and Market Cap

According to CoinMarketCap data, the trading price of the governance token ENA on September 2 was approximately US$0.1576, up 4.53% in 24 hours. During the same period, trading volume surged 138.6% to approximately $828.5 million, with a market value of nearly $1.54 billion, and a fully diluted valuation of approximately $2.36 billion.

● Price: US$0.1576
● 24-hour change: +4.53%
● Market value: US$1.54 billion
● 24-hour trading volume: US$828.5 million (+138.6%)
● Fully diluted valuation: US$2.36 billion
● Total lockup value: US$4.65 billion
● Total supply: 15 billion tokens

Application next step plan

Android version, U.S. and EU services, and multi-currency account features supporting euro, yen and Brazilian real are listed as upcoming, which will be the next milestone worthy of attention in Ethena's information.

The Malta registered entity behind the app emphasized that the product always maintains an unmanaged model, meaning that the company never directly holds user funds.

This release is one of the clearest signals that digital dollars have moved from trading terminals to daily consumption habits, while Avalanche serves as the underlying settlement network, supporting this familiar application.