Ethena Ecosystem’s First Listed Company StablecoinX to Debut on Nasdaq June 27

StablecoinX, the first publicly listed company in the Ethena ecosystem, will begin trading on the Nasdaq on June 27 after completing its merger with a special purpose acquisition company.

Ethena announced on June 26 in a post on X that StablecoinX had completed its business combination with TLGY Acquisition Corp. The company will trade on Nasdaq under the ticker USDE.

StablecoinX is the first listed infrastructure company focused on Ethena’s digital dollar ecosystem. It plans to provide services to institutional clients through its infrastructure offerings and proprietary middleware, Stablecoin Harness. The company also plans to pursue a long-term Ethena treasury strategy.

Ethena described StablecoinX as the first publicly listed company focused on its digital dollar ecosystem and said it aims to establish itself as a core infrastructure provider connecting the stablecoin economy.

StablecoinX will help expand the Ethena ecosystem through infrastructure services and institutional distribution channels. Over the longer term, it plans to combine an ENA treasury strategy with stablecoin infrastructure to broaden an institution-focused digital dollar ecosystem.