Ethena Treasury Raises IDR 8.6 Trillion, StablecoinX and TLGY are the Main Supporters!

Jakarta, Pintu News – StablecoinX and TLGY recently announced an additional $530 million in PIPE financing, marking a major step in the development of the Ethena stablecoin ecosystem. This deal not only strengthens StablecoinX’s position in the global market but also sets the stage for their debut on NASDAQ under the ticker USDE.

Why is TLGY Joining StablecoinX?

TLGY, a special purpose acquisition company (SPAC), was formed with the primary objective of merging with StablecoinX, an innovative crypto company. The alliance aims to build a large treasury of ENA (Ethena Network Asset) tokens. The main focus of this merger is to create the first treasury company focused on the Ethena stablecoin ecosystem.

The collaboration between TLGY and StablecoinX is expected to bring strong synergies, optimizing the resources and expertise of both entities. This will accelerate the development of stablecoin-related products and services, as well as expand their reach in the global market.

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Future Expansion of StablecoinX with ENA

If the merger plan is successful, StablecoinX will benefit greatly from the growing global demand for digital dollars. This will not only strengthen their position in the market but will also support Ethena’s growth and adoption with long-term and institutional capital support.

This development is expected to bring more stability and trust to the Ethena ecosystem, allowing more users and institutions to adopt stablecoins as part of their financial operations. As such, StablecoinX is on track to become a leader in the stablecoin industry.

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USDe Ethena Stablecoin Growth

According to Guy Young, founder of Ethena Labs and advisor to StablecoinX, since the initial financing announcement, the circulation of Ethena’s USDe stablecoin has increased to over $12 billion. This shows the wide adoption and growing trust in this stablecoin in the global market.

Ethena Labs has also partnered with Anchorage Digital Bank to bring USDtb to the domestic market. Young believes that this will be the first stablecoin to meet the requirements of the new GENIUS Act legislation, marking an important step in the regulation and security of digital assets.

Conclusion

With $530 million in fresh funds and a solid strategic plan, StablecoinX and TLGY are poised to change the digital finance map. This deal not only strengthens the Ethena ecosystem but also positions StablecoinX as a key player in the global stablecoin market. Going forward, the industry will witness more innovation and growth thanks to the strong foundation these two companies have built.

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Reference

• Coinpedia. StablecoinX and TLGY Raise Another $530 Million in PIPE Financing for Ethena Treasury. Accessed on September 8, 2025
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