Franklin Templeton digital asset veteran takes helm at StablecoinX
Former Franklin Templeton digital asset executive Christopher Jensen will lead StablecoinX, the largest corporate holder of Ethena’s ENA token.
Christopher Jensen, a former executive at Franklin Templeton with a background in digital assets, will become the CEO of StablecoinX, the largest corporate holder of Ethena's ENA token. This appointment follows Jensen's success as CEO of StablecoinX, which listed on Nasdaq in June, and its chairman, Ted Chen, who will retain a position on the board.
StablecoinX, trading under the USDE ticker, focuses on the Ethena ecosystem. Ethena issues the USDe stablecoin, which ranks fifth among stablecoins with approximately $4.4 billion in circulation, according to DefiLlama data. Jensen, who previously served as a portfolio manager and director of digital asset research at Franklin Templeton, will lead StablecoinX as it holds about 3.03 billion ENA tokens, representing roughly 20% of the token's total supply, making it ENA's largest corporate holder.
Before joining StablecoinX, Jensen contributed to building the digital asset group at Franklin Templeton, where the firm's blockchain venture fund participated in Ethena's initial investment. This move arrives a week after Ethena launched Ethena Pay, a self-custodial app enabling users to spend, save, and transfer the USDe synthetic dollar.
The ENA token has faced a 20% year-to-date decline but has seen an 80% increase over the past month, trading around $0.16, according to CoinGecko.
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