StablecoinX and TLGY reach a merger agreement and raise an additional $530 million to support the ENA token treasury reserve
2025-09-06 07:57:48
After raising $360 million to launch its ENA treasury strategy in July, stablecoin issuer StablecoinX Assets announced a definitive business merger agreement with special purpose acquisition firm TLGY Acquisition Corp. and an additional $530 million in PIPE financing to support its newly established ENA reserve. The latest financing investors include YZi Labs, Brevan Howard, Susquehanna Crypto and IMC Trading, as well as Dragonfly, ParaFi Capital, Maven11, Kingsway, Mirana and Haun Ventures. It is reported that after the completion of the financing transaction with a total size of 890 million US dollars, StablecoinX will continue to acquire ENA tokens, and the total holdings are expected to exceed 3 billion.
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