Ethena taps FalconX for institutional stablecoin lending

Ethena has appointed FalconX as an institutional lending partner, adding an overcollateralized stablecoin credit facility to the assets backing its synthetic dollar business. Summary Ethena will provide a revolving senior secured credit facility through a FalconX lending vehicle. FalconX will use the capital to acquire crypto-backed institutional loan receivables. Ethena will hold a first-priority security interest over the vehicle’s assets. Commercial thresholds, portfolio limits, pricing terms, and the facility’s size remain confidential. Ethena said in an Aug. 14 announcement that the agreement will place stablecoins into overcollateralized lending arrangements managed through digital asset prime broker FalconX. Ethena has partnered with FalconX, a leading digital asset prime broker, as an insitutional lending partner.As part of the partnership, Ethena will invest in stablecoin lending arrangements to @FalconXGlobal on an overcollateralised basis as part of our institutional lending… pic.twitter.com/NzoVveXFSC— Ethena (@ethena) August 13, 2026 Under the transaction, FalconX can use Ethena’s capital to expand lending activity on its balance sheet. Ethena, in turn, expects to rece...