On July 21, according to official news, the stablecoin issuer StablecoinX announced the completion of a $360 million financing to acquire ENA tokens, and plans to list Class A common stock on the Nasdaq global market under the stock code 'USDE'. Among them, the Ethena Foundation will contribute ENA tokens worth $60 million.

The competition in the stablecoin sector has begun, going straight for an IPO! No need to launch a project, just acquire it; the logic behind projects in the crypto space is similar to that of a listed company, only they are listed on Binance instead of the Nasdaq.

Take a look, with so many stablecoin projects, could they all be indirectly going public!