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Mega Matrix Inc. (NYSE American: MPU) announced plans to focus its digital asset treasury strategy on stablecoin governance tokens, with Ethena’s ENA tokens as the primary strategic reserve asset.
The Singapore-based holding company said it aims to participate in governance of stablecoin ecosystems through strategic holdings of governance tokens. Subject to market conditions, MPU plans to purchase ENA tokens as part of its digital asset treasury strategy.
ENA tokens serve as the governance token for Ethena, a digital dollar protocol built on Ethereum. Ethena Foundation issues USDe, which the company states is the third largest stablecoin by circulating supply after Tether and Circle. USDe has reportedly surpassed $10 billion in market supply within 500 days.
The company cited a 2025 Standard Chartered report projecting the stablecoin market could reach $2 trillion by the end of 2028. MPU said the strategy is designed to secure a position within the growing stablecoin market.
Mega Matrix operates FlexTV, a short-video streaming platform and producer of short dramas, through its indirect wholly owned subsidiary Yuder Pte, Ltd.
The announcement includes forward-looking statements regarding the company’s ability to purchase stablecoin governance tokens at desired prices, implement the strategic expansion into the stablecoin sector, and obtain additional financing for its digital asset treasury strategy.