Ethena Labs has launched the beta version of Ethena Pay, a self-custodial payment app built on Avalanche and available in 48 countries. The app lets users receive funds through IBAN or crypto wallets, holds balances in USDe, and supports withdrawals to external bank accounts in local fiat currency. The United States and the European Union are excluded from the initial testing phase. Ethena Pay offers three tiers: Standard, Pro, and VIP. Users qualify by locking $0, $2,000, or $10,000 worth of ENA, or by inviting 0, 10, or 50 people, respectively. USDe balances earn 5% annualized yield for Standard users on up to $5,000, and 6% for Pro and VIP users on up to $15,000 and $50,000, respectively. The payment card offers AVAX cashback of 4% for Standard users, 4.5% for Pro, and 5% for VIP, with cashback rising to as much as 10% at selected merchants including Uber, Spotify, and Claude.