A new company called Stablecoinx wants to be the first public enterprise to be the decentralized finance (Defi) Protocol Ethena’s Ena (ENA) -toculates after collecting $ 360 million as the crypto treasury trend expands to Altcoins.
Nasdaq Listed Shell Company Tlgy Acquisition Corp. And Ethena-oriented Validator Operator Startup SC Activa said on Monday that they are planning to merge to form the new company, which is mentioned under the “Usde” toucher. The transaction is expected to close at the end of 2025, according to a press release.
Stablecoinx is planning to pick up $ 360 million in a private investment in public shares (pipe) of a group of investors, including Pantera Capital, Dragonfly, Galaxy Digital, Polychain and Blockchain.com, the companies said.
Of the new financing, $ 100 million is provided on locked ena tokens with a discount, while $ 260 million is in cash that can be used to buy more locked Ena from a subsidiary of Ethena Foundation.
For her part, the foundation said that the subsidiary starts a token -backkoop program to acquire $ 260 million to Ena -Tokens directly from fairs.
Ena jumped up to $ 0.58 before he chose part of the advance. It has been about 5% higher in the last 24 hours.
The announcement comes when the crypto -scale box of Wall Street warms up and spreads from Bitcoin
To Solana and Ether (ETH) and smaller altcoins.
Ethena is a Defi protocol that is known for its “digital dollar” of $ 6 billion, Usde, which generates proceeds by keeping spot BTC, ETH and SOL and a equivalent number of derivatives that harvest the financing percentage. The indigenous token of the protocol serves as a governance token that gives holders the right to have a say in decision-making.
ENA has been one of the best performing cryptocurrency in the last few days, with 65% in the past week.
Apart from the fresh demand that comes from the Treasury strategy and token purchase, the protocol also benefits from renewed interest in the used as the yields increase as a result of rising Perfinancing percentages.
Read more: Chart of the week: Wall Street’s ‘Infinite Money Glitch’ Moving from Bitcoin to Altcoins
