Stablecoin x Assets Inc. and Tlgy Acquisition Corp. announced that it had obtained $ 530 million in new private investment in actions capital (PIPE) Funding, expanding their war box to $ 890 million.
The increase comes as companies are preparing to merge and register on the Nasdaq under the name of Stablecoinx under the “USDE” ticker. The funds will support a long -term cash strategy built around the ENA of Ethena token.
Stablecoinx should hold more than 3 billion ENA, said companies, adding that the company should be the first cash vehicle dedicated to the Stablecoin protocol.
Investors include Brevan Howard, Susquehanna Crypto and IMC Trading, alongside Backers Dragonfly and Parafi.
The Ethena Foundation corresponds to the effort with a new redemption program of $ 310 million, bringing in total purchases announced to $ 570 million. The product will be used to acquire ENA on public procurement.
To align their strategy on the structure of the market, Stablecoinx has trained a new advisory advice chaired by Rob Hadick de Dragonfly.
The Council will focus on governance, partnerships and the value of long -term shareholders, because the company connects public equity to the Token economy of Ethena. The agreement should conclude in the fourth quarter.
Meanwhile, Arsstream Capital announced that it had invested $ 10 million in Ethena Labs, based on a first investment of $ 5 million made at the end of last year.
