4 hours ago
M2 Capital Limited, the concern limb of UAE-based M2 Holdings, has invested $20 cardinal successful Ethena’s governance token, ENA. The determination underscores a propulsion to link Middle Eastern investors with caller integer plus infrastructure astatine a clip erstwhile the portion is seeking a larger relation successful planetary finance.
Ethena is champion known for its crypto-native synthetic dollar, USDe, and its reward-bearing version, sUSDe. Both are backed by crypto collateral and maintained done hedging strategies designed to trim volatility.
The protocol has attracted much than $14 cardinal successful deposits since launching successful 2024, reflecting appetite for stablecoin-like products that besides make yield.
M2 Global Wealth, an affiliate of M2 Holdings, volition integrate Ethena into its wealthiness absorption offerings. The radical says this adds a regulated mode for clients to entree returns from emerging integer assets. Kim Wong, M2’s caput of treasury, said the woody sets a caller modular for spot and information successful the region’s market.
The concern follows M2’s information successful a backing inaugural for the Sui blockchain ecosystem earlier this year. It besides comes arsenic the UAE continues to fortify its regulatory model to pull crypto firms and investors.
By aligning with Ethena, M2 aims to connection custody, yield, and liquidity services portion accelerating adoption of caller integer concern tools successful the Middle East.
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