M2 Capital backs Ethena with $20M ENA token investment

M2 Capital invested $20 million in Ethena’s ENA token as the protocol’s TVL neared $15 billion, with growing institutional backing from global crypto investors.

M2 Capital, the investment arm of UAE-based M2 Holdings, invested $20 million in ENA, the governance token for Ethena, a crypto-native synthetic dollar protocol built on Ethereum.

M2 Holdings, a conglomerate with digital asset exposure across custody, investment and wealth management, plans to integrate Ethena (ENA) products into client offerings through its affiliate, M2 Global Wealth Limited, according to a Thursday announcement.

“M2’s investment in Ethena marks another important step forward for the Middle East’s most sophisticated digital asset investors,” said Kim Wong, managing director and head of treasury at M2 Holdings.

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