StablecoinX and TLGY Acquisition secure $530 million for digital asset expansion, reaching $890 million total ahead of Nasdaq listing. The merged entity, StablecoinX Inc., will hold 3 billion ENA tokens, aiming to become the first treasury business for the Ethena ecosystem. Backers include YZi Labs, Brevan Howard, and more.

Ethena issues synthetic stablecoins USDe and USDtb, backed by a delta-neutral hedging model for stability and yield from crypto markets. USDe surpassed $12.6 billion in supply, making Ethena the third-largest stablecoin issuer. Weekly earnings exceeded $13 million, driven by market demand and the protocol’s structure.

The GENIUS Act, signed into law, aims to strengthen the dominance of dollar-pegged stablecoins in global markets. The stablecoin market is projected to exceed $2 trillion by 2028, emphasizing liquidity, interoperability, and regulatory alignment. Ripple CEO predicts the market could reach $2 trillion, with Western Union expressing interest in stablecoin integration for remittance.

Western Union eyes stablecoin integration for global remittance operations, emphasizing improved currency conversion and financial tools in volatile markets. CEO sees potential to streamline cross-border transfers and enhance financial access in underserved regions. The stablecoin sector is expected to undergo explosive growth, with Ripple positioning itself for the trajectory.

Read more at Yahoo Finance: StablecoinX Secures $530M to Buy Digital Assets Ahead of Nasdaq Debut