StablecoinX is an infrastructure software and services company focused on supporting the Ethena ecosystem, including its digital dollar products, particularly USDe. The Company intends to operate through three core business lines: Infrastructure Services, Infrastructure Software, and Distribution Services. Ethena has engineered a powerful dual-asset ecosystem: USDe, a premier digital dollar built to capture structural crypto market returns within its reserves, and USDtb, a fully compliant payment stablecoin built for mainstream commerce under the evolving U.S. federal stablecoin regulatory framework.
StablecoinX’s mission is to accelerate the adoption of these next-generation digital dollars by bridging their capital efficiency to traditional financial institutions and payment markets. To that end, we plan to use our distribution capabilities through the traditional capital markets to issue debt, equity, or hybrid securities, and use those proceeds to purchase USDe. This structure creates a pathway to distribute USDe’s unique, uncorrelated profile directly to traditional investors while increasing the total circulating supply of USDe in the form of permanent capital. Concurrently, through our Infrastructure Software business line, we are building middleware designed to simplify how corporations integrate Ethena products into their existing payment workflows, enhancing day-to-day utility and access.
By combining public-market transparency with operational and asset integration into the Ethena ecosystem, StablecoinX is poised to deliver a liquid vehicle to participate directly in the modernization of global payments and growth in tokenized assets.
- $1.9 Trillion and Growing by 2030: Operating in a stablecoin market projected to see its yield-bearing segment growth driven by institutional tokenization demand and the establishment of a U.S. federal stablecoin regulatory framework. (Stablecoins 2030)
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Why StablecoinX Chose Ethena: The only digital dollar protocol serving DeFi collateral and regulated payments simultaneously, with battle-tested peg stability, counter-cyclical reserve profile uncorrelated to traditional fixed income, and white-label integrations across MegaETH, Coinbase, and 20+ networks.
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~20% of ENA Supply Held (upon closing): A dominant strategic stake in Ethena's core governance asset, positioning StablecoinX to directly capture ecosystem velocity and expansion of the Ethena protocol.
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$890M in Secured PIPE Financing: Backed by leading institutional investors including Dragonfly, Brevan Howard, Pantera Capital, and ParaFi Capital across two tranches to accelerate our software deployment and ecosystem scaling.
- $300B+ Global Market Today: Operating in a hyper-growth sector where annual on-chain stablecoin volumes now rival legacy payment networks. (DeFiLlama)
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Expect Three Interconnected Revenue Streams: Following the launch of such services, we expect to capture commercial value via institutional distribution primitives, financial middleware software, and volume-based network infrastructure fees.