The indigenous assets of the Stablecoin-oriented crypto project Ethena (ENA) increased by more than 28% on Friday and ignored a broader crypto-market lecture.
The price increase was materialized after the Arthur Hayes -Stunder Decentralized Finance (Defi) project announced A new strategic partnership with Anchorage Digital, a federally chartered crypto bank.
The partnership is intended to bring the second Stablecoin offer from Ethena, USDTB, to the US under the regulatory umbrella of the recently established Genius Act, where Anchorage Digital issues the Activum in its own country.
The new law, signed by US President Donald Trump last week, establishes a regulatory framework for Stablecoins, cryptocurrencies linked to the US dollar. The legislation requires that each token is fully supported by liquid assets such as cash or short-term American treasury.
USDTB is supported by Tokenized Treasury funds of institutional quality, including BlackRock’s Buidl, a tokenized money-market fund designed to offer a stable value of $ 1 per token. The BlackRock fund was built on the Ethereum (ETH) Blockchain.
Says Guy Young, CEO of Ethena Labs,
“Although we have already seen a strong demand for USDTB, we expect that genius compliance will enable our partners and holders to extend their use over new products and platforms full of confidence. By collaborating with Anchorage Digital – the only federally regulated Crypto -Bank in the United States – we must reinforce the product.”
The indigenous active of Ethena, ENA, acts at $ 0.607 at the time of writing and has risen by more than 56% for the past seven days.
For comparison: the total crypto market capitalization has fallen by more than 4% in the last 24 hours.
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Generated image: midjourney