Ether.fi will launch its own stablecoin on Ethena’s whitelabel infrastructure

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Users and customers tied to Ether.fi’s products will notice that ether.fi USD is being added to the platform’s lineup, alongside its staking and card services. That means the stablecoin is now part of the same ecosystem rather than a separate product, and its operational pieces are being handled through Ethena’s setup.

In practice, the launch changes who handles the stablecoin’s back-end functions: Ethena is set to manage reserves, minting, redemptions, and compliance. What stays the same is that the token is a U.S. dollar stablecoin under Ether.fi’s brand, and Ether.fi says the platform already has more than $300 million in stablecoin balances.