StablecoinX shares, listed on Nasdaq under the ticker USDE, are now available as tokenized securities on Binance’s bStocks platform, enabling investors to trade them 24/7 against crypto pairs such as USDT. StablecoinX positions itself as the first publicly traded company focused on Ethena ecosystem infrastructure, with its main asset being a position of approximately 3 billion ENA tokens valued between $212.9 million and $275 million. The company raised approximately $890 million through a PIPE in 2025, with backing from investors including Dragonfly and Pantera Capital. On September 25, 2026, Ethena began integrating bStocks into the USDe stablecoin backing strategy, creating a direct connection between the tokenized shares and the stablecoin’s collateral mechanism.
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