Ethena Labs teams up with Alchemy Pay to enable fiat on-ramps for USDe and ENA

Alchemy Pay has partnered with Ethena Labs to enable direct fiat purchases of USDe and ENA using regular payment methods.

Alchemy Pay, a Singapore-based fiat-to-crypto payments provider, has partnered with Ethena (ENA) to enable users to buy Ethena’s synthetic stablecoin USDe and its native token ENA, using regular payment methods like Visa, Mastercard, Apple Pay, Google Pay, and more.

Alchemy Pay has already integrated into the Ethena Swap portal, giving users in over 173 countries a simple way to convert their local currency into USDe or ENA. With support for over 50+fiat currencies, this integration removes a major barrier to entry, allowing people to access and use Ethena’s ecosystem without the need to go through centralized exchanges or deal with wallet transfers.

By integrating with Alchemy Pay, Ethena is following in the footsteps of other major players that have already incorporated Alchemy Pay’s on and off-ramp solutions to facilitate the purchase and sale of its assets.

For example, in May last year, decentralized staking protocol Lido integrated Alchemy Pay’s on and off-ramp services to facilitate the purchase and sale of stETH using fiat currencies. Around the same time, Metis, an Ethereum (ETH) Layer 2 blockchain, partnered with Alchemy Pay to integrate its on and off-ramp solutions to enable users to purchase Metis’s native token, METIS, using local fiat currencies and payment methods like Visa and Mastercard. Most recently, Alchemy Pay has expanded its on-ramp support to support for Hedera (HBAR).