After Bitcoin and Ethereum, Mega Matrix Bets $2B on ENA | Crypto Work Pro
NEW YORK, Sept. 12, 2025 /PRNewswire/ — Mega Matrix (NYSE: MPU) has filed a $2 billion common shelf registration with the U.S. Securities and Exchange Commission (SEC) to advance its Digital Asset Treasury (DAT) strategy. With this transfer, MPU turns into the primary U.S.-listed company to anchor its company treasury on ENA — the governance token of stablecoin USDe. Industry observers see the choice as the following chapter within the evolution of company digital asset treasuries — from MicroStrategy’s pioneering Bitcoin strategy, to Ethereum and different protocol primarily based fashions, and now MPU’s next-generation wager on ENA.
Strategic Differentiation
Unlike earlier DAT fashions, MPU is taking a totally different path by focusing straight on ENA. By anchoring its stability sheet to ENA, the company sees “double leverage”: publicity to yield as USDe expands, and potential appreciation in ENA’s token price.
As of September 2025, USDe has develop into the world’s third-largest stablecoin, trailing solely Tether (USDT) and Circle (USDC), and the biggest totally on-chain stablecoin. Since August 2024, USDe’s market cap has climbed more than 200%, in contrast with 87% for USDC and 39.5% for USDT.ENA, the governance token, secures the protocol, drives ecosystem growth, and will take part in revenues as soon as the “Fee Switch” is activated. Today, USDe ranks among the many high 20 digital belongings by market capitalization, with ENA within the high 50.
The investment logic is easy. As the stablecoin market expands, USDe continues to outpace its friends, driving increased protocol earnings. Once the Fee Switch is activated, a portion of these earnings will circulate to ENA holders, amplifying the token‘s scarcity value. With ENA’s provide capped and USDe anticipated to scale by orders of magnitude, the long-term worth of ENA — each in governance and yield — is positioned to rise considerably. In short, ENA gives equity-like dividends with the shortage of a capped token.
Stablecoins: From Billions to Trillions
Institutional forecasts already level to multi-trillion-dollar demand for stablecoins over the following decade. Citi initiatives $1.6 trillion by 2030 with an upside case of $3.7 trillion. McKinsey and Standard Chartered forecast $2–2.8 trillion by 2028. Bernstein estimates $4 trillion by 2035, whereas Coinbase anticipates $1.2 trillion by 2028.
MPU argues these projections stay conservative. Its inside evaluation suggests the market might finally strategy $10 trillion, fueled by adoption throughout a number of fronts: tokenized asset settlement, money market funds shifting into stablecoins, DeFi and CEX demand, dollarization in rising markets, cross-border funds, company treasury management, and shopper transactions. Taken collectively, these use instances level to a market approaching $10 trillion.
USDe/ENA Outperform Peers
Under the new U.S. stablecoin law, compliant stablecoins are prohibited from paying curiosity, successfully decreasing them to “zero-yield dollars.” By distinction, USDe has emerged as the primary yield-bearing stablecoin to attain scale. In the three weeks following passage of the U.S. Genius Act, USDe’s provide surged 70%, including practically $4.2 billion.
Colin Butler, Executive Vice President and Global Head of Markets at MPU, mentioned:“USDe has already proven its sustainability — generating $100 million in revenue within 250 days and expanding circulation to $10 billion in just 500 days. No stablecoin has grown faster. That’s why ENA sits at the core of our treasury strategy.”
Songtao Jia, Chief Strategy Officer at MPU, added:“USDe is more than just a rival to USDC or USDT — its real strength is openness. From the outset, it integrated with DeFi ecosystems like Aave, Curve, Pendle, Sky, and EigenLayer, instead of building a walled garden. That makes USDe feel less like a product and more like infrastructure. It’s not simply a stablecoin; it’s beginning to look like the operating system for decentralized finance.”
MPU isn’t alone in its ENA strategy，MPU purchases unlocked ENA from the open market.Inflation from token unlocks stays a issue. Roughly half of ENA provide remains to be locked and will vest over three years. MPU views this as a typical “rite of passage” for younger digital belongings, noting that USDe’s fast growth far outpaces inflation.
About Mega Matrix Inc.
Mega Matrix Inc. (NYSE: MPU) is a publicly traded company pioneering the combination of digital belongings into company treasury methods. Originally a diversified holding company with pursuits spanning ETH staking, and short drama streaming companies, Mega Matrix has strategically pivoted to focus on blockchain innovation, stablecoins, and decentralized finance. Through its Digital Asset Treasury (DAT) strategy, the company builds strategic positions in governance tokens, together with ENA, the governance token of the quickly growing USDe stablecoin protocol, combining potential yield, appreciation, and lively governance participation. For more info, please go to: https://megamatrix.io/
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SOURCE Mega Matrix Corp
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