Ethena to expand development staff by 50% ahead of launch of two new products

Uk Jin

Summary

Ethena Labs said it will expand development staff by 40~50% ahead of the launch of two new products.
The co-founder said the new business lines would have potential comparable to the existing USDe.
Ethena said it is hiring heavily in key areas such as security, DeFi, and trading.

Ethena Labs, the issuer of the stablecoin (a virtual asset whose value is linked to fiat currency) USDe, is ramping up hiring. This is recruitment for new business.

On the 21st (Korean time), The Block reported that Ethena co-founder Guy Young said via X (formerly Twitter), "We plan to launch two new business lines and products in the coming months," and "to that end, we will hire about 10 new employees." The Ethena team, currently about 20–25 people, is expected to expand by 40~50% with this hiring.

Young said, "We have maintained team size for the past two years, but now we are making a meaningful expansion," adding, "Both new products have the potential to rival USDe."

Ethena is recruiting, through job postings, for roles such as head of security, senior backend engineer, DeFi/trading/security engineer, business development personnel, and product designer.

ENA

USDE