BlockBeats News, June 3rd. According to official sources, decentralized finance protocol Ethena has announced a strategic partnership with Coinbase. Both parties will work together to promote the development of on-chain finance and savings products, covering over 100 million users. The first growth plan is expected to be officially launched next week, aiming to accelerate the adoption and application of on-chain financial products.

As part of the collaboration, Coinbase Ventures has also completed its initial investment in the ENA token through the open market. This marks Coinbase Ventures' first direct purchase of ENA, further strengthening their partnership in the on-chain finance ecosystem development.

Coinbase Ventures stated that Ethena has become a key player in the on-chain finance sector, and its innovative products are driving the development of stablecoins and on-chain yield markets. In the future, both parties will deepen their cooperation around the USDC ecosystem and more on-chain financial products, jointly promoting the growth of crypto financial infrastructure.