Shares of Company
#StablecoinX were listed today on the Nasdaq stock exchange — official statement
Ticker:
$USDE The company holds in its balance sheet approximately 3.029 billion
#ENA (worth $275 million), i.e., about 20% of the total float.
StablecoinX was established as a public company to give investors access to the Ethena ecosystem by purchasing its shares on Nasdaq, without the need to buy ENA directly or hold digital currencies. The company entered the market through a merger with the special purpose acquisition company (SPAC) TLGY Acquisition Corp.
StablecoinX is developing the infrastructure for
$USDE and
#USDtb , distribution services, as well as a strategy to aggregate ENA tokens in its balance sheet.
Ethena Foundation also participates in the deal structure and collaborates with StablecoinX under a long-term agreement that will allow the company in the future to buy more ENA directly from
#ethena at a discount