Ethena Pay Launches on Avalanche as Tokenized Assets Near $2B
Ethena Pay, a global neobank, launched on Avalanche this week, while tokenized assets on the chain approached $2 billion with 724 US stocks now available. The Avalanche Summit NYC agenda was also released, featuring Sports Illustrated Tickets.
Key Highlights
Ethena Pay, a global neobank, launched on Avalanche this week.
Tokenized assets on Avalanche approached $2 billion, with 724 US stocks available via Dinari.
Avalanche Summit NYC agenda released, featuring Sports Illustrated Tickets discussing onchain strategy.
Lake Bears and Salmon launched on The Grotto L1 with BANDS token integration.
Team1 Türkiye hosted an Avalanche Coffee Meetup in Istanbul.
Full Analysis
Bitcoin's break above $81,000, fueled by the largest ETF inflow day since January, has sparked a broad crypto rally. On Avalanche, the week's defining story was the launch of Ethena Pay (team1-turkiye, team1-korea, team1-brasil), a global neobank built on the chain, alongside a milestone for tokenized assets.
Ethena Pay Goes Live
Team1 Türkiye (team1-turkiye) announced on September 1 that Ethena Pay, a global neobank, is now live on Avalanche. The service offers daily banking services, marking a concrete step toward mainstream financial integration on the chain. Team1 Korea (team1-korea) and Team1 Brasil (team1-brasil) amplified the news on September 2, highlighting Ethena Pay's role in bringing everyday banking to Avalanche users. Team1 Türkiye later emphasized Avalanche's significance as backend infrastructure for such enterprise applications.
Tokenized Assets Near $2 Billion
Team1 LatAm (team1-latam) and Team1 Vietnam (team1-vietnam) both summarized Avalanche's August performance on September 2 and 3, respectively. Key figures: tokenized assets on the chain approached $2 billion, and 724 US stocks are now available via Dinari. This underscores Avalanche's growing role in real-world asset tokenization, a sector that has seen increasing institutional interest.
Avalanche Summit NYC Agenda Released
The Avalanche Summit NYC agenda was published by Team1 Türkiye on September 1, with the event scheduled for September 16-17. A notable addition: Sports Illustrated Tickets will discuss why it moved onchain during a live talk, as reported on September 3. This real-world adoption story spotlights how traditional ticketing is leveraging blockchain technology.
Ecosystem Updates: The Grotto and Developer Tools
On September 3, Team1 (team1) announced a new member portal and the launch of Lake Bears and Salmon on The Grotto L1. The multiplayer free-for-all game integrates BANDS tokens, with auto-bridging from AVAX. Team1 India (team1-india) highlighted Avalanche's Testnet Faucet on September 2 as a starting point for developers to obtain test AVAX.
Community Engagement
Team1 Türkiye also organized an Avalanche Coffee Meetup in Istanbul's Kadıköy district on September 2, aimed at uniting the local Avalanche community. This grassroots event reflects ongoing efforts to build regional developer and user communities.
Market Data
Avalanche's TVL stands at $490.9 million, with DEX volume at $112.89 million over 24 hours. Top gainers include $COQ (+6.7%), $BTC.b (+4.3%), and $sAVAX (+3.6%), while $QI (-4.7%) led losses. Protocols by TVL on Avalanche: Aave V3 ($270.12M), Grove Finance ($262.04M), Centrifuge Protocol ($262.00M).
What to Watch
The Avalanche Summit NYC on September 16-17 will feature talks from Sports Illustrated Tickets and other real-world adopters. Continued growth in tokenized assets and the performance of Ethena Pay as a neobank on Avalanche are key developments to monitor.