Ethena Expands Ecosystem With Launch of Self-Custodial Money App

Ethena (ENA) has officially launched Ethena Pay, a self-custodial money app the project bills as “the internet money neobank,” advertising a 6% dollar savings rate, 5% card cashback.

It even has free transfers across roughly 50 countries at launch. It also comes with dollar savings, card spending, international transfers and free onramps in dollars, pounds and euros, with fiat account numbers tied to self-custodial stablecoin wallets.

Though access starts with 400 early users and expands weekly through a September beta. Notably, Avalanche (AVAX) is the exclusive settlement network, and a feature called Buy Now Pay Never puts savings rewards toward purchases without touching the principal.

Tiers and Caps

As mentioned, Ethena’s card cashback is at a flat 5%. The product page breaks it into tiers: the free Standard plan pays 4% on spending with cashback capped at $100 a month, while the Pro and VIP plans lift the monthly caps to $360 and $1,000, with 5% reserved for the top tier.

Savings follow the same pattern: Standard accounts earn 5%, upper tiers get the advertised 6%, and rewards pay out daily. A footnote says the rates rest on Ethena-reported weekly data and assume no net staking activity during reward vesting.

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