TLDR
- Ethena Labs is hiring around 10 new team members, increasing staff by 50%.
- Two new products from Ethena are set to launch within three months.
- Ethena’s current team size is about 20 to 25 contributors.
- New hires include backend, DeFi, and security engineers, plus product roles.
Ethena Labs, the company behind the stablecoin USDe, is expanding its team as it prepares to introduce two new products. The firm plans to increase its workforce by nearly 50%, hiring around 10 new roles across engineering and product teams. These additions will support the development of two upcoming business lines expected to match the scale of USDe, according to co-founder Guy Young.
Team Expansion Amid Product Development
Ethena Labs, known for its synthetic dollar USDe, will expand its team for the first time in two years. The company currently has about 20 to 25 contributors but is looking to grow its workforce by 40% to 50%.
On Monday, Guy Young, Ethena’s co-founder, announced via a post on X that the startup is opening 10 new roles. These roles will support the development of two new products set to launch within the next three months. “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 include engineering roles across backend, DeFi, security, and trading. The company is also hiring a head of security, a product designer, and a business development associate. Ethena’s job listing page shows the team is looking for experienced professionals to help scale its technology and operations.
Two New Products in the Pipeline
Ethena’s new business lines are expected to complement its existing offerings, including USDe and USDtb. The company has not provided specific details about the products, though Young said both could reach the same scale as USDe.
The products are scheduled for release within the next quarter. Ethena is focusing on expanding its services beyond stablecoins as part of its broader product strategy. These upcoming products are being developed internally and are aimed at addressing new areas within the digital asset ecosystem.
Ethena launched USDe as a synthetic dollar designed for DeFi use. It has since grown into the third-largest stablecoin project by volume. With these new initiatives, the company appears to be targeting further growth in both user adoption and protocol integrations.
Strategic Partnerships and Investor Support
Ethena has also seen increased interest from major investors. In September, M2 Capital, a UAE-based digital asset firm, joined as a backer. Other investors include Binance Labs, Bybit, Dragonfly, Fidelity, and Franklin Templeton.
These partnerships are part of Ethena’s ongoing efforts to strengthen its position in the decentralized finance space. The startup recently expanded its integrations through a collaboration with Jupiter, a leading protocol on the Solana blockchain. Jupiter announced it will use Ethena’s whitelisting service to launch its own stablecoin, JupUSD.
These developments come as Ethena continues to scale its operations and prepare for broader adoption of its services across blockchains.
Steady Growth Since Launch
Ethena has maintained a small core team over the past two years while expanding its ecosystem. The company has focused on building secure and reliable infrastructure for its synthetic stablecoin.
By growing its workforce and product lineup, Ethena is working to meet increasing demand in decentralized finance. The two new business lines reflect a shift toward a more diversified product strategy. The hiring efforts and upcoming launches mark a new phase for the company’s development roadmap.
