The Internet Money App
Send, save, and spend across borders with nothing
but a phone and an internet connection.
Earn while you sleep.
Always earning
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6% APY
Earn rewards every day automatically.
The moment your balance lands, it starts earning. No staking, no locking, no opt-in.
Best-in-class rewards.
Rewards that beat your bank for the best savings account in the world.
Uncapped.
You earn on your whole eligible balance, not a limited amount your bank decides.
EUR, YEN, BRL and more.
Hold and earn in 
and more, each earning by default.
Earn up to 6%
on your dollars.
Paid daily.
Earn more than any savings account without caps on your whole balance, with nothing to switch on or opt into.
APY data is based upon weekly data reported by Ethena which assumes no net stake/unstake activity during reward vesting periods. Fintech APY is an average of Apple Card Savings, Revolut, and Wise USD rates as of December 2025. Treasuries APY is based on US Treasuries 3M data as of December 2025. All data presented is for informational purposes only and should not be construed as advice or a solicitation to acquire a specific asset. Market conditions may change and actual future results may vary.
6.0%
Fintech
3.8%
Treasuries
3.5%
Banks
0.4%
Send money anywhere,
in seconds, for free.
To a name, not an address. No borders, no limits, no fees.
02
Transfer to any wallet,
or withdraw to a bank.
03
Track every transfer with
instant notifications.
Spend anywhere.
Earn on every purchase.
Generate a virtual card in under a minute.
5%
Up to 5% crypto cashback
on every transaction.
Add to Apple Pay in seconds.
Google Pay available soon.
Up to 5% cashback.
Earn on your everyday spend.
Spend cashback
4.0%
up to $100 monthly cashback at this rateEarn rewards
5.0%
The engine behind one of
the world’s largest digital dollars.
$750M+
in rewards paid to holders
$30B+
in total mint and redeem, with zero loss of user funds
100+
ecosystem integrations
Ethena Pay runs on the same infrastructure that already secures billions and powers earn products at the biggest names in finance.
Your money stays yours. Always.
Ethena Pay is non-custodial. We’re not a bank, and we never hold your money. You do.
Full ownership
Withdraw to a wallet or bank anytime. Your assets never leave your hands.
No crypto knowledge? No problem
Use it exactly like any other neobank. We handle the complexity so you don't have to.
Social login supported
Sign in with your Apple or Google account — no need to manage complex wallets.
Passkeys, not passwords
Phishing-resistant sign-in, secured by Face ID or fingerprint.
Questions, answered.
No. Ethena Pay is a non-custodial money app. Your fiat IBAN is provided through licensed banking partners, and your assets sit in a self-custodial wallet that only you control — we never hold your money.
Your balance earns the prevailing USDe base rate, which we do not set and which moves with market conditions. The Daily Boost is the amount we add on top to bring you up to your tier’s total rate — so the headline figure of up to 6% per annum is the total, base included, and not a further 6% added to the base rate.
The Boost applies only to the portion of your balance up to your tier’s Boost Cap. Balance above the cap still earns the USDe base rate in full; it just does not earn the Boost.
| Tier | Rate on balance up to the cap | Boost Cap (Eligible Balance) |
|---|---|---|
| Standard | 5% per annum | Up to $5,000 |
| Pro | 6% per annum | Up to $15,000 |
| VIP | 6% per annum | Up to $50,000 |
Because the Boost is the difference between the two rates, it narrows if the USDe base rate rises and widens if it falls — the total stays at your tier’s rate either way. If the base rate ever exceeds your tier’s total rate, the Boost is zero and you earn the base rate.
The Boost accrues daily on the time-weighted average daily value of your Eligible Balances and is paid daily in USDe, ordinarily within 24 hours of the close of the accrual day. It requires at least one Qualifying Card Transaction per calendar month. The Daily Boost is a discretionary promotional incentive: it is not interest, not yield, not a deposit, and is not insured by any government deposit-insurance scheme. Further caps and jurisdictional restrictions apply — see Section 6.6 of the Terms of Use.
You may earn 4% of the U.S. dollar value of each Qualifying Card Transaction, or up to 5% depending on the user tier you are enrolled in, credited in AVAX (the native digital asset of the Avalanche network). Your rate steps down as your spend rises through the month, and each band applies only to the portion of your spend that falls inside it — crossing a band changes the rate on further spend, never on spend you have already made, so you are never worse off for spending more. Spend is counted per calendar month and resets at the start of each month.
| Tier | Portion of monthly spend | Cashback rate |
|---|---|---|
| Standard | $0 – $2,500 | 4% |
| $2,500 – $4,000 | 1% | |
| Over $4,000 | 0% | |
| Pro | $0 – $8,000 | 4.5% |
| $8,000 – $10,000 | 2% | |
| $10,000 – $12,000 | 1% | |
| Over $12,000 | 0.5% | |
| VIP | $0 – $20,000 | 5% |
| $20,000 – $30,000 | 2% | |
| $30,000 – $40,000 | 1% | |
| Over $40,000 | 0.5% |
Excluded transactions include cash advances, ATM withdrawals, purchases of crypto / stablecoins / NFTs / securities, gambling, gift cards, peer-to-peer transfers, account funding, and fees or taxes. Transactions under $1.00 do not earn cashback. See Section 6.4 of the Terms of Use for the full conditions, and the Pricing page for the full schedule.
You do. Ethena Pay is non-custodial: the wallet keys are yours, secured by passkeys and biometrics on your device.
Yes. Withdraw to any external wallet or to a bank account at any time. There is nothing locked and no term to wait out.
Sending money to other Ethena Pay users is free, with no monthly account fees and none of the usual FX markups. Pro is available via subscription or referrals.
Spend directly from your Ethena Pay balance, online and in person.
Ethena Pay is available only where we have authorized it, and not in the Restricted Jurisdictions listed in Section 4.6 of the Terms of Use. Some features carry extra eligibility rules — the Spend Card is not offered to U.S. persons. You must be at least 18 to register.
Your money,
finally working for you.
