Ethena, Usde Stablecoin, collects $ 100 million to finance the targeted symbol for Trafi: Bloomberg

Ethena, Stablecoin USD, raised $ 100 million to finance a similar symbol targeting traditional financial institutions (Trafi), Bloomberg mentioned Monday.

The report added that the financing round was completed in December, with Franklin Templeton and Fidelity Investments of the F-PRIME Capital among supporters, citing a person familiar with the matter.

Founder Jay Young He said in a blog post in January Ethaina has plans to launch Iusde, a distinctive symbol designed for organized financial institutions.

Known as synthetic stablecoin, USDE differs from other symbols in that it is not supported 1: 1 by the assets. Instead, it maintains its connection by including stablecoins and taking future positions with great open attention.

The ceiling of the USDE market jumped to about $ 6 billion this month, and it became the third largest stablecoin behind the USDT from Tether and Circle usdc, which is worth $ 142 billion and $ 57 billion, respectively.

Some observers see USDE A potential safe sky during larger periods Volatility In the broader encryption market. Arthur Hayes, chief investment employee in Maelstrom, said that the digital asset fund had sparked his exposure to USDe to record levels.

“We will be in abundant quantities of dry powder ready to buy a Dip on Bitcoin,” he said.

Ethina did not immediately respond to Coindsk’s request to comment on the $ 100 million financing round.

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