Ethena launches Ethena Pay, a stablecoin-based banking app with savings and payments
Ethena enters digital banking with new app
Crypto firm Ethena has launched Ethena Pay, a consumer finance app that combines savings, payments, and money transfers using stablecoins. The app, now available on Apple’s App Store, marks Ethena’s move into everyday banking services.
Stablecoins are digital tokens designed to hold a steady value, often pegged to traditional currencies like the U.S. dollar.
High-yield savings and card rewards
Ethena Pay offers a 6% annual savings rate on dollar deposits and 5% cashback on card spending. Users can also access free onramps for dollars, pounds, and euros, as well as local currencies. The app links fiat bank account numbers with self-custodial stablecoin accounts, meaning users control their own funds without relying on a third party.
A feature called “Buy Now Pay Never” lets users cover purchases using savings rewards instead of their principal balance.
Built on Avalanche
The app uses the Avalanche blockchain for settlement, handling money movement, transfers, and payments. This is a shift from Ethena’s earlier focus on Ethereum-based infrastructure.
Limited early access
Ethena Pay is currently in beta, with only 400 early-access users. The company plans to gradually expand access throughout September.
What is confirmed
- Ethena Pay launched on September 1, 2026, on Apple’s App Store.
- The app offers 6% savings rates and 5% card cashback.
- Avalanche is the exclusive settlement network for the app.
- Early access is limited to 400 users, with plans to expand in September.
- Ethena previously introduced a savings product with Coinbase earlier this year.
Why this matters
The launch shows Ethena’s push to bring stablecoins into mainstream finance, blending crypto-based savings with traditional banking features like payments and transfers.
