Ethena Labs, the developer behind USDe, the world’s third-largest stablecoin, is preparing for its next phase of growth. The company plans to expand its team by nearly 50%, adding around 10 new roles across engineering, product, and business development to support the creation of two new product lines. The announcement came from co-founder Guy Young in an X (formerly Twitter) post on Monday.
Team expansion marks new phase
According to Young, Ethena’s contributor base has stayed between 20 and 25 members over the past two years. However, the company now aims to increase its capacity as it broadens its product portfolio.
“We are expanding the team meaningfully for the first time with 10 new roles across engineering and product for two entirely new business lines and products,” Young said.
The open positions on Ethena’s careers page include technical roles such as head of security, senior backend engineer, and DeFi, trading, and security engineers. The company is also hiring a business development associate and a product designer. This recruitment drive is the first large-scale hiring initiative since the company’s inception and signals that Ethena is preparing for a period of faster product development.
Two new products in development
The upcoming business lines will complement Ethena’s existing products, USDe and USDtb. According to Young, both new initiatives have the potential to grow to a scale similar to USDe.
Ethena expects to release these products within the next three months. They are part of the company’s plan to strengthen its role in decentralized finance (DeFi) by introducing new instruments that extend beyond stablecoins.
The company’s synthetic dollar, USDe, uses a delta-hedging mechanism combining ETH collateral and derivatives exposure to maintain its price stability. This method has positioned it as a leading decentralized alternative to traditional, centralized stablecoins such as USDT and USDC.
Expanding partnerships and investor base
Ethena’s network of partnerships continues to grow. Recently, Jupiter, a major decentralized exchange aggregator on Solana, announced on their X account that it would use Ethena’s whitelisting service to launch its native stablecoin, JupUSD. The collaboration allows Jupiter to introduce a compliant stablecoin on Solana backed by Ethena’s technology.
JupUSD will have deep integrations across every Jupiter product:
— Jupiter (🐱, 🐐) (@JupiterExchange) October 8, 2025
- Collateral on Jupiter Perps
- Liquidity in Jupiter Lend
- Trading on Swap, Pro, and Mobile
- Integration into new products we’re building
A stablecoin for everything Jupiter (including $JUP holders 👀). pic.twitter.com/pyJdVbr1Gh
In September, the firm also received support from M2 Capital, the proprietary investment arm of a UAE-based digital asset group, according to their official website. M2 joined a lineup of prominent investors that already includes Binance Labs, Bybit, Dragonfly, Fidelity, and Franklin Templeton. This growing investor base demonstrates confidence in Ethena’s direction and the potential of its technology stack.
Strengthening its position in decentralized finance
Since launching USDe, Ethena Labs has focused on maintaining a compact team while steadily improving its infrastructure. The company has emphasized secure development and practical product design to ensure that its assets can integrate with leading blockchain protocols.
The decision to expand now follows a period of consistent growth and adoption. The additional staff will help Ethena accelerate product development and strengthen its operational capacity as demand for decentralized financial tools continues to rise.
The company’s diversification into two new business lines also indicates a broader approach to the digital asset market. By expanding its offerings, Ethena aims to provide users with more options for managing liquidity and stable value across multiple ecosystems.
Looking ahead
Ethena’s latest move marks an important milestone for the company. The combination of increased funding, new partnerships, and team expansion shows a clear commitment to scaling responsibly while exploring new opportunities in decentralized finance.
With two new products set to debut within the next quarter, Ethena is entering a pivotal period of development. The company’s consistent track record and backing from major investors position it well to continue shaping how synthetic assets function within the broader Web3 economy.
Gunel Ismayilova
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