TLGY & StablecoinX Secure $530M Additional PIPE for Ethena

New York - September 5, 2025 - TLGY Acquisition Corp. (OTC: TLGYF), a special purpose acquisition company, and StablecoinX Assets Inc., a validator and infrastructure business supporting the Ethena ecosystem, have announced an additional $530 million in private investment in public equity (PIPE) financing. This new funding is in connection with their previously announced definitive agreement for a business combination, which will result in the combined entity being named StablecoinX Inc. Upon closing, StablecoinX Inc. is expected to list on Nasdaq under the ticker symbol "USDE".

The additional PIPE financing brings the total committed PIPE funding to $890 million. These funds are intended to support StablecoinX's multi-year treasury strategy, specifically to build a substantial reserve of ENA, the Ethena protocol's native token. The combined company is now projected to hold over 3 billion ENA tokens at the close of the transaction, establishing it as the first pure-play treasury company in the Ethena stablecoin vertical.

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