Mergers & Acquisitions ·
On June 25, 2026, StablecoinX Inc. completed a business combination with TLGY Acquisition Corp. and SC Assets…
USDEStableCoinX Inc.
On June 25, 2026, StablecoinX Inc. completed a business combination with TLGY Acquisition Corp. and SC Assets, resulting in StablecoinX becoming a publicly traded company listed on Nasdaq under the symbol "USDE". The transaction included a PIPE investment of approximately $893 million ($544 million in cash and $349 million in ENA Tokens). Ethena OpCo contributed $60 million in ENA Tokens, and following the merger, Ethena beneficially owns a majority of the company's voting power. The company holds approximately 3.03 billion ENA tokens, representing 39.4% of the circulating supply. Post-closing, there are 24,029,375 shares of Class A Common Stock and 3,157,754 shares of Class B Common Stock outstanding. StablecoinX is an infrastructure software and services company that supports the Ethena ecosystem through blockchain infrastructure, middleware software, and distribution services.