According to CoinMeta, Wu said that ethena announced the launch of ethenapay, which is officially described as a “new internet currency bank” built on Avalanche. The platform supports cashbacks on card purchases, US dollar savings, cross-border transfers, multi-currency accounts, as well as integration of fiat currency IBAN with self-managed stablecoin accounts. Currently, ethena offers a 5% cashback on card purchases and a 6% interest rate for US dollar savings, and ethenapay has been launched on iOS.