Ethena Launches Pay App on Avalanche with Tiered Rates Up to 6%

Ethena has launched the beta version of Ethena Pay, a self-custodial payment application for iOS that leverages Avalanche as its exclusive settlement layer. The app aims to facilitate direct consumer payments using USDe, a stablecoin. The initial early-access list includes 400 users, with plans to expand weekly as the product transitions out of beta.

The app offers tiered interest rates, with cashback rewards reaching up to 5%, though not the initially announced 10%. Ethena's approach emphasizes user control and seamless integration into the crypto payment ecosystem, potentially enhancing the utility of USDe in everyday transactions.

As a self-custodial solution, Ethena Pay aligns with the broader trend of increasing user sovereignty in digital finance. The use of Avalanche's high-performance blockchain aims to provide fast and low-cost settlement, supporting the app's scalability and user experience.

The rollout signifies a step forward in crypto payment infrastructure, with Ethena positioning itself as a bridge between stablecoins and consumer-facing financial services on blockchain platforms.