Ethena launches beta of Avalanche-based Ethena Pay for USDe payments

BitcoinWorld Ethena launches beta of Avalanche-based Ethena Pay for USDe payments Ethena Labs has introduced a beta version of Ethena Pay, a self-custodial application built on the Avalanche network that leverages the synthetic dollar stablecoin USDe for payments and remittances.

The launch marks a significant step in expanding the utility of USDe beyond trading and DeFi into everyday financial transactions. How Ethena Pay works Ethena Pay allows users to receive fiat into a bank account or crypto into a wallet, with funds reflected in USDe.

Transfers sent to bank accounts are paid out in local currency. For USD, EUR, and GBP transfers, the service is free, while other currencies incur a fee ranging from 0.05% to 0.1%.

This fee structure aims to make cross-border payments more affordable compared to traditional remittance services. Initial rollout and geographic scope The beta service is being rolled out across 48 countries, including Japan, Singapore, and Australia.