StablecoinX Begins Nasdaq Trading With $275M ENA Treasury After TLGY Merger

StablecoinX Inc. (NASDAQ: $USDE) began trading on the Nasdaq Capital Market on Friday after completing its merger with TLGY Acquisition Corp., bringing a new Ethena-linked treasury and infrastructure vehicle into U.S. public markets.

The company's Class A shares are trading under the ticker USDE, while its warrants trade under USDEW. StablecoinX describes itself as the first public stablecoin infrastructure company focused on the Ethena digital dollar ecosystem, giving equity investors a listed route into one of crypto's largest synthetic dollar networks.

The debut starts with a large ENA position. StablecoinX holds about 3.03 billion Ethena governance tokens valued at roughly $275 million, based on a 30-day VWAP of $0.0909 before closing. The company said that it represents about 20% of ENA's total supply and about $11.42 in ENA assets per fully diluted share.

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Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/crypto/articles/stablecoinx-begins-nasdaq-trading-275m-212500761.html)