StablecoinX Inc., a company poised for an explosive debut on the Nasdaq, has secured $530 million in additional funding. This substantial investment comes as the entity prepares to merge with TLGY Acquisition and formally launch on the exchange. This merger is expected to position StablecoinX as a significant player within the stablecoin market, potentially impacting liquidity and growth across the Ethena ecosystem. The funds will bolster the company’s ability to provide increased liquidity for its native ENA token, along with support for the development of USDe and USDtb stablecoins, according to Marc Piano, Director of the Ethena Foundation. This funding is being hailed as crucial for strengthening the foundation of the Ethena ecosystem.