Access the Ethena Network
From day one, your stablecoin will be part of one of the largest networks across CeFi and DeFi, giving you distribution to leading exchanges and custodians.
Stablecoin for every
Request DemoMaximum Flexibility. Customize reserves between a GENIUS-compliant, BlackRock-backed stablecoin and a crypto-native dollar with with potentially greater capital efficiency.
Build with the fastest growing digital dollar issuer.
Your Stablecoin, Ethena Infrastructure.
Ethena provides the infrastructure for launching and managing your stablecoin. You design the product and control distribution. Capture value currently leaving your ecosystem by offering your users a branded stablecoin backed by institutional-grade reserve operations.
Ethena Powered Stablecoins in Practice
Jupiter launched JupUSD, a native stablecoin built on Ethena's Stablecoin-as-a-Service stack. Backed by USDtb and integrated across Jupiter's products, JupUSD anchors ecosystem liquidity with future support for USDe.
TVL
MegaETH introduced USDm, a stablecoin backed by USDtb reserves. Designed to subsidize sequencer fees and stabilise transaction costs, USDm anchors low-cost scalability across the MegaETH ecosystem.
TVL
The eSui Dollar (suiUSDe), a synthetic dollar released in Q4 2025 in collaboration with Ethena Labs, has now launched on the Sui mainnet, significantly expanding the assets available on Sui's on-chain financial infrastructure.
TVL
Flexible Backing Assets
- USDe Supply
- sUSDe Historical APY
USDe is the 4th largest crypto dollar, fully collateralized with crypto assets and corresponding short futures positions, as well as liquid stablecoins. (February 2026)
- sUSDe Historical APY
- USDtb Supply
- Funds Managed by
- BlackRockBUIDL
USDtb is the 11th largest stablecoin, backed by high quality short duration cash-equivalents, namely BlackRock's BUIDL. (February 2026)
- Funds Managed by
- BlackRockBUIDL
Customize Your Stablecoin's Backing
USDtb
50%
USDe
50%
Potential Rewards
8.60%
Profile
Balanced
This calculation is based on a USDtb Rewards of 4.2% and USDe Rewards of 13.00%. Neither USDe nor USDtb holders are entitled to rewards solely by virtue of holding the assets. Figures provided above are illustrative only; any available rewards are provided by third parties and subject to their applicable Terms of Service.
Stay in Control with the Client Dashboard
MegaETH x Ethena: Introducing USDm. In partnership with Ethena, MegaETH is launching USDm to align incentives across the network, run the sequencer at-cost, and deliver the lowest fees for users and builders.
Press Releases
Ethena infrastructure undergoes rigorous security audits and real-time reserves verification to provide the highest level of assurance.
Audits by Zellic, Quantstamp, Spearbit & Cantina
No critical or high vulnerabilities reported
Public audit via Code4rena for open security validation
