{"id":32083,"date":"2026-09-01T15:49:09","date_gmt":"2026-09-01T14:49:09","guid":{"rendered":"https:\/\/investx.fr\/en\/2026\/09\/01\/ethena-pay-avalanche-6-percent-yield-10-percent-cashback\/"},"modified":"2026-09-01T15:49:31","modified_gmt":"2026-09-01T14:49:31","slug":"ethena-pay-avalanche-6-percent-yield-10-percent-cashback","status":"publish","type":"post","link":"https:\/\/investx.fr\/en\/crypto-news\/ethena-pay-avalanche-6-percent-yield-10-percent-cashback\/","title":{"rendered":"Ethena Pay Launches on Avalanche: 6% Yield and 10% Cashback for Users"},"content":{"rendered":"\n

Ethena Labs<\/strong> has just crossed a major milestone in its expansion strategy. The company is launching the beta version of Ethena Pay<\/strong>, a self-custody<\/strong> payment application built on Avalanche<\/strong>, available in 48 countries<\/strong> from day one.<\/p>\n\n\n\n

The offering is directly designed to compete with traditional neobanks<\/strong>: up to 6% annual yield<\/strong> on deposited funds and 10% cashback<\/strong> on everyday spending. An aggressive positioning that aims to transform USDe<\/strong> into a genuine mainstream payment tool.<\/p>\n\n\n\n

Behind this announcement lies a clear ambition: to make Ethena<\/strong> far more than a synthetic stablecoin protocol<\/strong> \u2014 and establish itself as a fully-fledged decentralized financial infrastructure<\/strong>.<\/p>\n\n\n\n

Ethena Pay: A Crypto Payment App Playing in the Big Leagues<\/h2>\n\n\n\n

Ethena Pay<\/strong> presents itself as a non-custodial<\/strong> payment application, meaning users retain full control of their funds at all times. Unlike centralized solutions such as Revolut<\/strong> or Binance Pay<\/strong>, no intermediary holds assets in custody.<\/p>\n\n\n\n

The application is built around USDe<\/strong>, Ethena’s synthetic stablecoin<\/a><\/strong>, which generates its yield through delta-hedging<\/strong> strategies on derivatives markets<\/strong>. This mechanism allows an annualized yield of around 6%<\/strong> to be distributed directly to app users, without routing through a third-party DeFi protocol<\/strong>. This is precisely what sets Ethena Pay apart from conventional crypto payment solutions: the yield is native, not artificial.<\/p>\n\n\n\n

The choice of Avalanche<\/a><\/strong> as the underlying blockchain<\/strong> is no coincidence. The network offers very low transaction fees<\/strong>, near-instant finality<\/strong> (under one second), and a rapidly growing institutional ecosystem. Avalanche has firmly established itself in recent months as a go-to environment for tokenized finance<\/strong> and on-chain payment<\/strong> projects, largely thanks to its customizable subnets<\/strong>.<\/p>\n\n\n\n

10% Cashback: The Adoption Lever That Could Change Everything<\/h2>\n\n\n\n

The real selling point of Ethena Pay<\/strong> for everyday users is the 10% cashback<\/strong> on purchases made through the application. A rate that far exceeds what even the most generous crypto cards<\/a><\/strong> on the market currently offer \u2014 Coinbase Card<\/strong>, Crypto.com<\/strong>, and Binance Card<\/strong> typically cap out between 1% and 5% depending on usage conditions.<\/p>\n\n\n\n

That said, this level of cashback raises legitimate questions about the long-term sustainability of the model<\/strong>. Ethena has not yet publicly detailed the exact funding structure<\/strong> behind this benefit. Is it a launch incentive<\/strong> designed to rapidly acquire users, or a sustainable mechanism<\/strong> backed by protocol revenues? The answer will directly determine the project’s credibility over time.<\/p>\n\n\n\n

With an immediate rollout across 48 countries<\/strong>, Ethena is targeting international adoption<\/strong> from the beta phase itself. The application primarily targets users already familiar with stablecoins<\/a><\/strong> and DeFi<\/strong>, but its interface is designed to be accessible to a broader audience. If the product delivers on its promises, Ethena Pay<\/strong> could emerge as one of the most concrete real-world use cases<\/strong> for crypto in everyday life \u2014 and significantly strengthen structural demand for USDe<\/strong>.<\/p>\n\n\n\n

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