Franklin Templeton digital asset veteran takes helm at StablecoinX
StablecoinX named former Franklin Templeton digital asset executive Christopher Jensen as CEO, replacing Ted Chen, who will stay on as board chairman. StablecoinX is a Nasdaq-listed company focused on the Ethena ecosystem and is the largest corporate holder of Ethena’s ENA governance token, with about 3.03 billion tokens, or roughly 20% of supply. Ethena issues USDe, a synthetic dollar and one of the largest stablecoins, with about $4.4 billion in circulation. Jensen previously led digital asset research at Franklin Templeton and helped build its digital asset group; the firm’s blockchain venture fund also backed Ethena’s seed round. The appointment comes shortly after Ethena launched Ethena Pay, an app for spending, saving, and transferring USDe. ENA remains down about 20% for the year but has rallied more than 80% in the past month.
