Franklin Templeton Veteran Named CEO of StablecoinX, Ethena’s Largest Corporate Backer

StablecoinX has appointed Christopher Jensen, a former Franklin Templeton digital asset executive, as its new chief executive, placing him in charge of the largest corporate holder of Ethena’s ENA governance token. Jensen takes over from Ted Chen, who guided the company through its public listing in June and will remain chairman of the board.

Company Holds Major Stake in Ethena Ecosystem

StablecoinX, which trades on Nasdaq, is focused entirely on the Ethena ecosystem and holds roughly 3.03 billion ENA tokens, about 20% of the token’s total supply. Ethena issues USDe, a synthetic dollar stablecoin with nearly $4.4 billion in circulation, ranking it among the largest stablecoins by market size.

New CEO Brings Deep Digital Asset Background

Before joining StablecoinX, Jensen served as a portfolio manager and director of digital asset research at Franklin Templeton, where he helped build the firm’s digital asset division following its 2018 launch. His prior work gave him early exposure to Ethena through the asset manager’s venture fund, which participated in the protocol’s seed round.

The leadership change comes shortly after Ethena launched a new payment app, while ENA has rebounded sharply over the past month despite remaining down for the year overall.