Wire · technology
Ether.fi Is Launching Its Own Stablecoin, With Ethena Running the Reserves
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Fusion42 · 6 October 2026 · Fusion42 review
Ether.fi is launching its own USD stablecoin managed through Ethena's platform, which handles reserves, minting, redemptions, and compliance. The stablecoin aims to integrate with ether.fi's existing $300 million in stablecoin deposits and its Cash card product, which processes nearly $1 billion in spend with over 100,000 active cards.
This Wire brief sits within Fusion42's coverage of Crypto & Web3 and Fintech, and 2 sources have reported it.
◆ ◆ The Wire takeaway
You now have a clearer path to become a stablecoin issuer without handling reserves or compliance yourself. This deal shortcuts entry into crypto-backed payments and could push fintech founders to partner with whitelabel platforms rather than build stablecoins in-house.
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2 sources · 6 Oct 2026
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