- Ethena expands team to launch two new stablecoin-driven products.
- Major investors back Ethena’s bold move into new business lines.
- New roles signal Ethena’s strong push for DeFi innovation growth.
Ethena Labs, the team behind the third-largest stablecoin, is gearing up for a major expansion as it prepares to roll out two new products. According to co-founder Guy Young in an X post, the company plans to increase its team size by nearly 50 percent.
The move comes as the startup seeks to strengthen its development capacity for new business lines that could rival its existing stablecoin assets.
For the past two years, Ethena has maintained a team of around 20 to 25 contributors. However, Young stated that the firm is now opening 10 new positions to support product development and engineering. He noted that these initiatives could grow to match the scale of Ethena’s flagship product, USDe, signaling a significant phase of growth for the platform.
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Expanding Vision with New Hires and Product Lines
The company’s job listings reveal openings for a head of security, a senior backend engineer, and several specialists in DeFi, trading, and security engineering. Ethena is also seeking a business development associate and a product designer to round out its new team structure.
This recruitment drive highlights the company’s intent to scale operations as it broadens its suite of financial products.
Moreover, Ethena’s upcoming launches are expected to enhance the ecosystem around its synthetic dollar, USDe, and its stablecoin-like asset, USDtb. Both assets have gained attention for offering alternative dollar-pegged solutions in decentralized finance.
According to Young, the new products could debut within the next three months and have the potential to become as influential as the company’s existing tokens.
Partnerships and Growing Investor Confidence
In recent months, Ethena has expanded its footprint through partnerships and integrations. Notably, the Solana-based protocol Jupiter announced plans to use Ethena’s whitelisting service for launching its native JupUSD stablecoin. This development reflects growing confidence in Ethena’s technology within the broader crypto ecosystem.
Additionally, the company’s investor list has continued to grow. The proprietary investment arm of M2 Capital recently joined Ethena’s backers, alongside established names such as Binance Labs, Bybit, Dragonfly, Fidelity, and Franklin Templeton. This backing underscores the strong institutional support behind the firm’s expansion strategy.
Strengthening Position in the Stablecoin Market
Ethena’s new hiring phase marks a defining moment for the stablecoin developer. As it diversifies into new product categories, the company aims to reinforce its role as a key player in decentralized finance and stable asset innovation.
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