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TLGY Acquisition Corp. (OTC: TLGYF) is a special purpose acquisition company in the financial services sector that has announced a proposed business combination with StablecoinX Assets Inc., a newly formed validator and infrastructure business supporting the Ethena ecosystem. News about TLGY often centers on this transaction, its structure, and its implications for access to the Ethena protocol’s native token ENA.
Recent coverage highlights the definitive Business Combination Agreement between TLGY and StablecoinX Assets Inc., under which the combined company is expected to be named StablecoinX Inc. and the parties will seek to list its Class A common shares on Nasdaq under the ticker symbol "USDE" upon closing. Articles also describe multiple rounds of private investment in public equity (PIPE) financing associated with the transaction, including initial and additional PIPE commitments that are expected to fund a multi-year treasury strategy focused on building a reserve of ENA.
Another recurring theme in TLGY-related news is the formation and evolution of SC Assets’ Strategic Advisory Board. Releases describe the Advisory Board’s role in providing high-level, non-governing strategic counsel as the company works toward its ENA-focused treasury strategy and scales validator and infrastructure services for the Ethena protocol. The Advisory Board is also described as serving as an ambassador group for SC Assets and the Ethena ecosystem, engaging with media and the public about the stablecoin market.
Investors following TLGYF news can expect updates on the status of the proposed business combination, details of PIPE financings, developments in the collaboration and token purchase agreements with the Ethena Foundation, and announcements related to governance and advisory appointments. These disclosures often include information about regulatory filings, shareholder meetings, and the conditions that must be satisfied for the transaction to close.
TLGY Acquisition Corp (OTC: TLGYF) and StablecoinX Assets announced the Strategic Advisory Board for SC Assets on October 9, 2025 following their definitive business combination agreement. The Advisory Board is chaired by Rob Hadick and adds four digital-asset investors: Kyle Samani, Nic Carter, Diogo Mónica, and Joshua Lim.
Board members will act as ambassadors for the Ethena ecosystem and SC Assets, engaging with media, social channels, and public education to support governance, liquidity, and adoption of the ENA treasury strategy.
TLGY Acquisition Corp. (OTC: TLGYF) and StablecoinX Assets Inc. have secured an additional $530 million in PIPE financing, bringing their total PIPE funding to $890 million. The financing includes participation from major investors like YZi Labs, Brevan Howard, and Susquehanna Crypto.
The combined company, to be renamed StablecoinX Inc., will hold over 3 billion ENA tokens post-transaction. The Ethena Foundation will initiate a $310 million token buyback program, increasing total buybacks to $570 million. Additionally, a new Strategic Advisory Board has been formed, chaired by Rob Hadick from Dragonfly.
The transaction is expected to close in Q4 2025, with StablecoinX shares listing on Nasdaq under ticker "USDE". The company will focus on building an ENA token reserve and supporting the Ethena ecosystem, which has grown its USDe stablecoin circulation to over $12 billion.
TLGY Acquisition Corp. (OTC: TLGYF) has announced a definitive agreement for a business combination with StablecoinX Assets Inc., a validator and infrastructure business supporting the Ethena ecosystem. The combined entity will be named StablecoinX Inc. and plans to list on Nasdaq under the ticker symbol "USDE".
The company has rescheduled its conference call to discuss the transaction with securities analysts for July 22, 2025, at 8:30 a.m. ET. StablecoinX will file a registration statement on Form S-4 with the SEC, including a preliminary proxy statement and prospectus. The transaction is subject to various closing conditions, including TLGY shareholder approval and regulatory clearances.
TLGY Acquisition Corp. (OTC: TLGYF) has announced a business combination with StablecoinX Assets Inc. to form StablecoinX Inc., aiming to become the first pure-play treasury company in the Ethena stablecoin ecosystem. The combined company will seek Nasdaq listing under ticker "USDE".
The transaction includes a substantial $360 million PIPE financing, with $260 million in cash and $100 million in discounted ENA tokens. Key investors include the Ethena Foundation ($60M), Dragonfly, Ribbit Capital, Blockchain.com, and others. The company will implement a strategic ENA token accumulation program, supported by a $260 million token buyback initiative from the Ethena Foundation.
The deal features a 5-year collaboration agreement with Ethena Foundation, who will maintain majority voting control through Class B shares. The transaction is expected to close in Q4 2025, subject to shareholder approval and Nasdaq listing requirements.
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