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Quick take:
The investment is part of the company’s strategy to connect Middle Eastern investors with new digital asset infrastructure as the region continues to pursue a major role in global finance.
M2 Holdings said the integration will add a regulated way for clients to access returns from emerging digital assets.
Ethena’s main products, USDe and its reward-earning version, sUSDe, already boast $14 billion in deposits just over a year and a half after launching USDe in February 2024.
M2 Capital, the UAE-based subsidiary of the UK holding company M2 Holdings, has invested $20 million in Ethena’s native token ENA. The investment is part of the company’s strategy to connect Middle Eastern investors with new digital asset infrastructure as the region continues to pursue a major role in global finance.
According to the announcement, M2 Holdings believes the integration of ENA with its subsidiary, M2 Global Wealth, will add a regulated way for clients to access returns from emerging digital assets.
Since launching its first product in February 2024, Ethena’s main products, the USDe and its reward-earning version, sUSDe, have attracted over $14 billion in deposits in just over a year and a half.
The integration further advances Ethena’s global expansion plan after recently sealing a partnership with Binance to bring the USDe stablecoin to hundreds of millions of users.
The USDe stablecoin was integrated with Binance Earn and made available as a reward-bearing collateral for futures and perpetuals trading. Ethena’s rapid expansion follows the signing into law of the stablecoin-focused bill, the GENIUS Act, in July. After the announcement, Ethena announced a partnership with Anchorage Digital, a leading crypto bank, to bring the first GENIUS Act-compliant stablecoin USDtb to the US.
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