Ethena Pay App Launches on Avalanche for USDe Consumer Payments
Ethena and Ava Labs introduce Ethena Pay, a self-custodial app for USDe balances, Visa spending and transfers settled on Avalanche, with limited early access.
Ethena and Ava Labs announced Ethena Pay, a self-custodial mobile app that holds user balances in USDe and routes spending, transfers and on/off-ramps through Avalanche settlement.
The app supports USDe balances, Visa card payments at more than 130 million merchants, domestic and international transfers, and conversion between bank or crypto deposits and USDe.
Ethena founder Guy Young said Avalanche focused on real-world assets and tokenized assets early, allowing Ethena Pay to connect to existing liquidity while users avoid direct DeFi interaction.
Current rollout limits
Rollout begins with an early-access list of roughly 400 users that will expand weekly through September. The iOS version is live in more than 50 countries.
Android support, multi-currency accounts, and access for users in the United States and European Union are still pending. The Visa card is unavailable to US persons.
Supply context and open questions
USDe circulating supply stands at roughly $4 billion, down from a September 2025 peak near $15 billion. The protocol has processed more than $30 billion in mints and redemptions across more than 100 platforms.
The scale of user adoption beyond the initial list and the regulatory path for US and EU access remain unknown.