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M2Capital from the UAE invests $20 million in Ethena to promote the development of digital assets in the Middle East.
On September 25, M2 Capital Limited, the investment arm of M2 Holdings based in the UAE, has invested 20 million USD in Ethena's governance token ENA. This move highlights the group's efforts to build new digital asset infrastructure in the Middle East and strive for a larger role in global finance. Ethena is best known for its crypto-native synthetic dollar USDe and its yield-bearing version sUSDe. Both are collateralized by crypto assets and utilize hedging strategies to drop volatility. Since its launch in 2024, the protocol has attracted over 14 billion USD in deposits, reflecting strong market demand for products that combine stablecoin characteristics with yield-generating capabilities. M2 Holdings' affiliate M2 Global Wealth will incorporate Ethena into its wealth management portfolio. The group stated that this provides clients with a regulated way to access returns from emerging digital assets.