Ethena Labs founder Guy Young discusses the launch of Ethena Pay

Ethena Labs founder Guy Young explains the launch of Ethena Pay, a neobank offering 6% yield on dollar deposits and 5% cashback in AVAX. The platform utilizes self-custodial stablecoin wallets while abstracting the technical complexity from users. Young highlights that the shift from basis trades to AAA-rated real-world-asset lending for USDe backing, along with revenue streams from card spending and FX fees, are central to the project's strategy to attract mainstream users.