The merger with TLGY Acquisition Corp is complete, and StablecoinX shares and warrants are set to begin trading on Nasdaq under USDE and USDEW as the company holds about 20% of ENA supply.
StablecoinX completed its merger with SPAC TLGY Acquisition Corp on June 25, clearing the way for its Class A common stock and public warrants to begin trading on Nasdaq on June 26 under the ticker symbols USDE and USDEW, respectively. The listing puts a public-market wrapper around a company whose strategy is closely tied to Ethena’s ecosystem: StablecoinX says it holds about 20% of ENA’s total supply. That concentration underscores both the scale of its wager on Ethena and the risks tied to token exposure, even as the deal adds to signs of institutional appetite for DeFi through listed vehicles.