StablecoinX, a Nasdaq-listed firm focused on the digital asset sector, has appointed Christopher Jensen as its new CEO and board member. Jensen, a former executive at Franklin Templeton, succeeds Ted Chen, who will transition to the role of Chairman to focus on capital markets and strategic oversight.
The company operates as an infrastructure and distribution partner for the Ethena ecosystem. Its business lines include infrastructure services, software, and distribution services. In July 2026, the firm launched StablecoinX Harness, a middleware technology designed to connect institutional clients with Ethena’s infrastructure.
StablecoinX holds approximately 3,03 billion ENA tokens, representing about 20% of the total supply, making it the largest corporate holder of the asset. Jensen will oversee the management of this treasury, as well as the deployment of funds raised during the company's public listing.
The firm went public in June 2026 via a SPAC merger, raising approximately $890 million through a PIPE financing arrangement. The company trades on Nasdaq under the ticker USDE.
