Ethena Labs
Ethena
Finland · Founded 2023 · $120.0M raised
- Employees
- 11–50
- Founded
- 2023
- Business Model
- B2C
- Website
- ethena.fi
- Total Funding
- $120.0M
- Last Round
- $100.0M Corporate RoundDec 2024
- Rounds
- 3
About
Ethena is a synthetic dollar protocol built on Ethereum that issues USDe, a digital dollar designed to operate independently of the traditional banking system. The protocol has partnered with major exchanges including Binance, embedding USDe across a platform of 280 million-plus users, and offers products such as HyENA, a USDe-margined perpetuals exchange built on Hyperliquid's HIP-3 standard. Ethena publishes real-time protocol backing ratios and mint/redeem availability, positioning itself as a leading digital-dollar issuer for crypto-native users.
Summary
Ethena Labs is a Crypto & Web3 company based in Finland, founded in 2023. It has raised $120.0M in total across 3 rounds, most recently a $100.0M Corporate Round round in Dec 2024. Investors include Franklin Templeton, F-Prime Capital and Brevan Howard Digital.
Tech & App Stack
5 technologies & apps tracked
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Funding History
Dec 2024
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Seed through Corporate Round — per-round amounts, valuations, and who invested in each round.
Investors
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