StablecoinX Lists on Nasdaq Under USDE Ticker, Holds ~3 Billion ENA Tokens
Crypto infrastructure company StablecoinX went public on Nasdaq on June 26, 2026, under the ticker USDE, following a merger with SPAC TLGY Acquisition Corp. As of the merger close, the company held approximately 3.029 billion ENA tokens (20% of total supply), valued at around $275 million. StablecoinX focuses on operating within the Ethena ecosystem, providing infrastructure, middleware software, and institutional distribution services. It runs Ethena cross-chain message validation nodes and has developed the Stablecoin Harness middleware stack. Ethena is one of the largest digital dollar issuers, with a combined circulating supply of USDe and USDtb stablecoins of approximately $5.4 billion.

