-
Back to menu
Prices
-
Back to menu
-
Back to menu
Indices -
Back to menu
Research
-
Back to menu
Events -
Back to menu
Sponsored
-
Back to menu
Videos -
Back to menu
-
Back to menu
-
Back to menu
Webinars
Select Language
By Ian Allison, AI Boost|Edited by Parikshit Mishra
Sep 25, 2025, 6:52 a.m.

- M2 Capital commits $20 million to Ethena’s governance token ENA.
- Ethena’s USDe and sUSDe products have surpassed $14 billion in total value locked.
M2 Capital Limited, the investment arm of UAE-based M2 Holdings, has invested $20 million in Ethena’s governance token, ENA. The move underscores a push to connect Middle Eastern investors with new digital asset infrastructure at a time when the region is seeking a larger role in global finance.
Ethena is best known for its crypto-native synthetic dollar, USDe, and its reward-bearing version, sUSDe. Both are backed by crypto collateral and maintained through hedging strategies designed to reduce volatility.
STORY CONTINUES BELOW
The protocol has attracted more than $14 billion in deposits since launching in 2024, reflecting appetite for stablecoin-like products that also generate yield.
M2 Global Wealth, an affiliate of M2 Holdings, will integrate Ethena into its wealth management offerings. The group says this adds a regulated way for clients to access returns from emerging digital assets. Kim Wong, M2’s head of treasury, said the deal sets a new standard for trust and security in the region’s market.
The investment follows M2’s participation in a funding initiative for the Sui blockchain ecosystem earlier this year. It also comes as the UAE continues to strengthen its regulatory framework to attract crypto firms and investors.
By aligning with Ethena, M2 aims to offer custody, yield, and liquidity services while accelerating adoption of new digital finance tools in the Middle East.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
More For You
By Ian Allison|Edited by Parikshit Mishra
27 minutes ago
The banks involved in the new euro-denominated stablecoin are: ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank and Raiffeisen Bank International.
What to know:
- The MiCA-regulated stablecoin is expected to be first issued in the second half of 2026.
- The stablecoin consortium has formed a new company in the Netherlands, aiming to be licensed and supervised by the Dutch Central Bank as an e-money institution.
- CoinDesk previously reported that Dutch bank ING was working on a stablecoin project with some other financial institutions.