MEXC Ventures has committed an additional $30 million to Ethena's governance token, ENA, bringing its total exposure across the Ethena ecosystem to $66 million. This investment, disclosed on October 1, 2025, builds on previous commitments, including a $16 million injection into Ethena Labs and a $20 million purchase of USDe, Ethena's synthetic stablecoin.
Ethena's USDe has experienced rapid growth, with total value locked exceeding $14 billion by the end of September and generating over $660 million in fees in the past 12 months. The protocol's expansion is supported by institutional interest, such as a $530 million round led by StablecoinX and a $20 million investment from UAE-based M2 Capital.
MEXC Ventures, which has deployed over $100 million across 40 blockchain projects in the last two years, provides not only capital but also operational and market development resources. This integrated approach includes trading, liquidity, and technical support, reinforcing Ethena's position in the stablecoin landscape and decentralized finance.
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