Ethena Labs: Ethena exits the German market, terminates application for MiCAR license
ChainCatcher news, Ethena Labs stated on social media that Ethena has reached an agreement with the German financial regulator BaFin to close all operations of its German subsidiary Ethena GmbH and will no longer apply for MiCAR authorization.
As of March 21, 2025, Ethena GmbH has ceased all minting or redemption operations, and related activities are now handled by Ethena (BVI) Limited, with users having completed the migration. Ethena GmbH no longer has any whitelisted users or direct clients.
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