Ethena Launches Ethena Pay on Avalanche for Digital Dollar Payments

Highlights:

• Ethena launched Ethena Pay on Avalanche, bringing self-custodial USDe payments, transfers, rewards, and Visa spending to users.
• The iOS app lets users send money by username, withdraw funds, and earn up to 6% APY.
• Ethena Pay is available in more than 50 countries, with Android, US, and EU launches planned next.

Ethena has launched Ethena Pay, a new self-custodial money app built on the Avalanche blockchain. In a September 1 post on X, Ethena described the product as an “internet money neobank” and confirmed that it is now available to download on iOS. The app brings Ethena’s USDe digital dollar into everyday payments. Users can hold money, send funds, withdraw to a bank or crypto wallet, and spend through a Visa-linked card. Avalanche provides the blockchain infrastructure behind transfers, payments, and settlement.

Unlike a traditional bank, Ethena Pay does not hold customer funds. The company describes the service as a non-custodial money app, meaning users keep control of their assets through their own wallet. The company also makes clear that the platform is not a bank or deposit-taking institution.

Excited to share what we've been working on for a while in stealth with our new neobank mobile experience built on Ethena's existing product set.

This is one of the few product categories that have emerged in the last couple of years that I think has a genuine chance of breaking… https://t.co/WzNHegGWSm

— G | Ethena (@gdog97_) September 1, 2026

Ethena Pay Brings USDe Into Everyday Payments

Ethena Pay allows users to send money directly to other users without entering a long crypto wallet address. Instead, transfers can be made using a username. Users can also move funds to an external crypto wallet or withdraw money to a bank account. The app also offers rewards on eligible balances. According to the official Ethena Pay website, users can earn up to 6% APY, with rewards paid daily. Eligible balances require no separate staking or locking process.

For spending, users can generate a virtual card and use it through Visa’s payment network. Ethena says the card can be used at more than 130 million Visa merchants worldwide, while eligible users can receive up to 5% crypto cashback on purchases. Apple Pay is supported, while Google Pay is expected to follow. Ethena Pay also supports social login through Apple or Google accounts and uses passkeys and biometric security instead of traditional passwords.

Avalanche Powers Ethena Pay Behind the Scenes

Ava Labs said Ethena Pay was built exclusively on Avalanche, with the network handling USDe transfers, payments, and settlement in the background. Users do not need to choose a blockchain network or directly interact with decentralized finance applications to use the service.

Ethena founder Guy Young said the partnership allows the company to connect its payment product with Avalanche’s existing financial ecosystem. “Avalanche was focused on RWAs and tokenized assets before almost anyone else was talking about them,” Young said.

The launch also gives USDe a direct route into consumer payments. Until now, the synthetic dollar has largely been used across crypto exchanges and decentralized finance platforms. Ava Labs said Ethena has processed more than $30 billion in minting and redemptions, while USDe is integrated across more than 100 platforms and protocols.

Ethena Pay is currently available on iOS in more than 50 countries, according to Ava Labs. Android support, additional currencies, and availability in the United States and European Union are expected to follow. Availability and individual features remain subject to local requirements.

Meanwhile, ENA was trading at around $0.1602 at press time, up 7.96% over the past 24 hours as Ethena expands its push into everyday payments.