Ethena Foundation Plans to Establish Financial Strategy Firm 'StablecoinX', Aiming to Purchase Approximately 53 Billion Yen in ENA

On the 21st, the Ethena Foundation, provider of the stablecoin USDe, announced plans to establish a treasury and financial strategy company 'StablecoinX' for the cryptocurrency ENA, with an investment plan of $360 million (approximately 53 billion yen) in ENA tokens. TLGY Acquisition Corp (hereafter TLGY), a special purpose acquisition company (SPAC), has signed a merger agreement with the newly established validator and infrastructure business 'StablecoinX Assets' to support Ethena's ecosystem.