ether.fi USD is EtherFi’s announced US dollar stablecoin, designed to make stablecoin balances usable across its products. EtherFi says it already has more than $300 million in stablecoin balances on its platform. EtherFi announcement
It is an EtherFi-branded product using Ethena Whitelabel infrastructure. Ethena says it will manage the reserves, minting, redemptions and compliance end to end; EtherFi’s announcement describes the coin as powered by Ethena. Ethena announcement
So it is presented as EtherFi’s own stablecoin on Ethena’s operating rails, not as EtherFi simply renaming Ethena’s USDe. Ethena says EtherFi joins projects including Maple, Jupiter, MegaETH and Sui building branded stablecoin products on its infrastructure. Ethena’s partner announcement
The announcements do not specify ether.fi USD’s backing asset, contract, chains or live mint date.