MergerJun 26, 2026, 06:08 AM
StablecoinX Completes Merger, Begins Nasdaq Trading as USDE
AI Summary
StablecoinX Inc. announced the closing of its business combination with TLGY Acquisition Corp. The company's Class A common stock will commence trading on the Nasdaq Capital Market under the ticker symbol "USDE" on June 26, 2026. StablecoinX, positioned as the first public stablecoin infrastructure company for the Ethena ecosystem, holds approximately $275 million in ENA tokens, representing about 20% of the total ENA supply. The company aims to capitalize on the rapidly growing stablecoin market, which is projected to reach $89.4 billion by 2034.
Key Highlights
- StablecoinX Inc. completed its business combination with TLGY Acquisition Corp.
- StablecoinX Class A common stock to begin trading on Nasdaq under "USDE" on June 26, 2026.
- Company holds approximately $275 million in ENA tokens.
- StablecoinX holds approximately 3,029 million ENA tokens, representing ~20% of total ENA supply.
- ENA assets valued at approximately $11.42 per fully diluted share.
- Approximately 24 million publicly traded Class A shares outstanding.
- Global stablecoin market surpassed $300 billion, with infrastructure market forecast to reach $89.4 billion by 2034.
Price Impact
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