The USDe stablecoin issuer plans to grow its workforce by nearly 50% as it prepares to introduce two new products with potential to rival its flagship asset.
Ethena Labs Strengthens Its Position in DeFi Market
Ethena Labs, the development firm behind the third-largest stablecoin USDe, is gearing up for major expansion. Co-founder Guy Young announced that the company will hire about 10 new engineers, increasing its team size by nearly 50% as it prepares to unveil two new products within the next three months.
“Ethena has stayed roughly flat at around 20–25 contributors for the last two years,” Young said in a post on X. “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 emphasized that both upcoming products could match the scale of USDe, underscoring the company’s ambition to broaden its footprint in the decentralized finance (DeFi) sector.
Hiring Drive Targets Technical and Strategic Roles
According to the firm’s job listings, Ethena is seeking a head of security, senior backend engineer, and several DeFi, trading, and security engineers. The company also plans to add a business development associate and product designer to strengthen both its technical and go-to-market strategies.
This hiring push will expand the team’s capacity to enhance existing assets like USDe and USDtb, while laying the groundwork for the new offerings.
A DeFi market analyst noted that the move signals “a maturing phase for Ethena Labs, which is positioning itself for the next growth cycle of decentralized stable assets.”
Ethena’s growth comes on the heels of increasing industry collaboration. Recently, Solana-based protocol Jupiter integrated Ethena’s whitelisting service to launch its own stablecoin, JupUSD. The company also secured investment from M2 Capital, joining existing backers such as Binance Labs, Bybit, Dragonfly, Fidelity, and Franklin Templeton.
With strong institutional support and fresh innovation in progress, Ethena’s expansion marks a pivotal step in its mission to scale DeFi-native stable assets and strengthen trust in synthetic dollar solutions.
Disclaimer
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