M2 Capital Limited, the investment arm of UAE-based M2 Holdings, has invested $20 million in Ethena's governance token, ENA. The move underscores the group's efforts to build new digital asset infrastructure in the Middle East and secure a larger role in global finance. Ethena is best known for its crypto-native synthetic dollar, USDe, and its yield-generating version, sUSDe. Both are collateralized by crypto assets and employ hedging strategies to mitigate volatility. Since its launch in 2024, the protocol has attracted over $14 billion in deposits, reflecting strong market demand for products that combine stablecoin features with yield. M2 Global Wealth, an affiliate of M2 Holdings, will add Ethena to its wealth management product portfolio. The group said this provides clients with a regulated way to earn returns from emerging digital assets. (CoinDesk)