Stablecoinx and TLGY Acquisition received an additional $ 530 million of financing to buy digital assets, which led to total obligations to 890 million dollars before the planned integration and the NASDAQ menu.
The joint company, which will be renamed on Stablecoinx Inc. has been set. , To hold more than 3 billion Ena, the original code of Ethaina Protocol. According to For the company, it will be the first company of the Treasury for the ETHENA ECOSYSTEM system, which is issued Usde and USDTB Stablecoins.
The capital was raised by treating private investments in public shares (PIPE), which allows public companies to raise capital by selling reduced shares to institutional investors.
Among the new investors in the company Yzi Labs, Brevan Howard, Susquehanna Crypto, IMC Trading, as well as Dragonfly supporters, Parafi Capital, MAVEN11, Kingsway, Mirana and Haun Ventures.
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The pipe deal was priced at a price of $ 10 per share, with a portion of the revenue to the lower closed Ena purchased from a company affiliated to the basis.
“Additional financing enhances the ecological system flexibility, deepens ENA’s liquidity, supports the sustainable growth of USDE, USDTB and Ethaina products in the future,” Mark Biano, Director of Ethaina Foundation, said in a statement.
This advertisement follows a disclosure on July 21, clarified the proposed merger of TLGY and Stablecoinx, a first -value first financing, and the Ena Re -purchasing program 260 million dollars.
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Ethena Stablecoin performs records
It was launched in early 2024 by Ethena Labs, Aden The Stablecoins Plastic Protocol is the top of the artificial dollar such as USDE and USDTB, which is supported by the neutral hedging model instead of traditional reserves.
The project is supervised by the Switzerland Ethaina Foundation, which is responsible for developing governance and developing the ecosystem.
According to September research, Linance a reportUSDE has become the fastest Stablecoin, which exceeds $ 10 billion in the offer, to $ 12.6 billion as of September. The report indicated that the teacher came in less than ten months, compared to about 88 months in favor of the USDT from Tether and 38 months for Circle’s USDC.
Tokeen Terminal Supply USDE data shows 31 % last month, making Ethina the third largest Stablecoin behind Tether and Circle.
Ethena also achieved more than $ 500 million of cumulative revenue as of August, which recently exceeds $ 13 million in weekly protocol profits.
The Binance Research attributed the increase to the demand for USDE and the returns from the hedging form, which picks up the return from the encryption markets to maintain the link of Stablecoin.
He also pointed out that Stablecoin, backed by Ethena, USDTB, is being developed with a way to comply under the recent American genius law, which was signed by US President Donald Trump in the law on July 18.
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