In a recent devloment, Ethena, a synthetic stablecoin protocol, is planning a major expansion to become a neobank by integrating its USDe stablecoin with innovative financial products and a native payment solution on Telegram. In 2025, Ethena plans to launch a new dollar savings product and iUSDe, a token for institutional use, aiming to merge crypto with traditional finance. The move comes as Ethena has been expanding its suite of products beyond its core USDe synthetic dollar, which introduced a novel trading mechanism to maintain its peg to the greenback. The protocol has experienced significant growth, capturing a large share of onchain USD assets and integrating USDe with major crypto and CeFi markets.
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