M2 Capital invests $20M in Ethena…"Expansion of digital finance in the Middle East"
Summary
- M2 Capital reportedly invested $20 million in Ethena.
- Ethena is an Ethereum-based synthetic stablecoin project, and its total value locked (TVL) is said to be $14 billion.
- Ethena's USDe and sUSDe tokens are being steadily adopted in the DeFi sector.
M2 Capital, a subsidiary of UAE-based investment firm M2 Holdings, is investing $20 million (about 28 billion won) in Ethena (ENA).
According to CoinDesk on the 25th (local time), Ethena recently raised $20 million in funding from M2 Capital. Ethena is a synthetic stablecoin project based on Ethereum (ETH). CoinDesk said, "This investment follows M2's participation earlier this year in a fundraising plan for the Sui (SUI) blockchain ecosystem," adding, "and it came as the UAE continues to strengthen regulatory frameworks to attract crypto companies and investors."
Meanwhile, Ethena, launched last year, has a total value locked (TVL) of $14 billion (about 19.6 trillion won). The Block said, "Ethena's stablecoin USDe and yield-generating token sUSDe are being steadily adopted in the decentralized finance (DeFi) sector."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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