Ethena Labs has launched a beta version of Ethena Pay, an Avalanche-based self-custodial app that uses USDe, a synthetic dollar stablecoin, for payments and remittances. Users can receive fiat in a bank account or crypto in a wallet, with balances reflected in USDe. Bank transfers are paid out in local currency. Transfers in USD, EUR and GBP are free, while other currencies incur fees ranging from 0.05% to 0.1%. The rollout covers 48 countries, including Japan, Singapore and Australia, but excludes the U.S. and EU initially. Ethena plans to add South Korea, Canada and Taiwan during the beta as local regulatory requirements are met. The company did not specify which licenses it has secured, The Block reported.