Coinbase Ventures, the exchange's venture arm, bought Ethena tokens as the protocol is set to roll out a Coinbase integration next week.

Coinbase Ventures bought ENA tokens on the open market, its first such disclosed purchase, alongside a Coinbase x Ethena distribution deal.

Ethena said the two companies have also become partners "to grow onchain finance and savings products."

Coinbase Ventures bought ENA as Coinbase expanded its Ethena partnership across custody, wallets, perps, and USDe access.

Coinbase (NASDAQ:COIN) Ventures invested in Ethena by purchasing ENA

Coinbase Ventures, the exchange's venture arm, bought Ethena tokens as the protocol is set to roll out a Coinbase integration next week.

Coinbase Ventures has purchased ENA on the open market as Coinbase and Ethena prepare to launch new onchain finance and savings products.