“Ethena’s Synthetic Dollar Protocol Draws Backing from Uae-Based M2 Holdings Affiliate”, – WRITE: www.coindesk.com
Ethena is Best Known for ITS Crypto-Native Synthetic Dollar, USDE, AND ITS REWARD-BEARING Version, Susde. Both are Backed by Crypto collateral and Maintained Through Hedging Strategies Designed to Reduce volatility.
The Protocol Has Attracked More Than $ 14 Billion in Deposits Since Launching in 2024, Reflection Appetite for Stablecoin-Like Products that Also Generate Yield.
M2 Global Wealth, An Atomate of M2 Holdings, Will Integrate Ethena Into Its Wealth Management Offers. The Group Says This Adds A Regulated Way for Clients to Access Returns from Emerging Digital Assets. Kim Wong, M2’s Head of Treasury, Said the Deal Sets a New Standard for Trust and Security in the Region’s Market.
The Investment Follows M2’s Participation in a Funding Initiative for the Sui Blockchain EcoSystem Earlier this Year. IT ALSO ComESS As the UAE Continues to Strenguten Its Regulatory Framework to Attract Crypto Firms and Investors.
By aligning with Ethena, M2 AIMS to Offer Custody, Yield, and Liquidity Services While Accelerating Adoption of New Digital Finance Tools in The Middle East.
The Banks Involved in the New Europe-Denominated Stablecoin Are: ing, Banca Sela, KBC, Danske Bank, Dekabank, Unicredit, Seb, Caixabank and Raiffeisen Bank International.
- The Mica-Regulated Stablecoin is Expert to Be FIRST Issued in the Second Half of 2026.
- The Stablecoin Consortium Has Formed a New Company in the Netherlands, Aiming to Be Licensed and Supervised by The Dutch Central Bank as an e-Money Institute.
- Coindesk Previoously Reported That Dutch Bank Ing Was Working on A Stablecoin Project with Some Other Financial Institutions.
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