The year 2025 marks a turning point as traditional financial institutions begin adopting blockchain technologies at scale. Two powerful currents are in focus. On one side, stablecoin legislation is driving rapid growth, with Circle (NASDAQ: CRCL) at the center. On the other, Digital Asset Treasury (DAT) strategies — public companies treating digital assets as core balance-sheet reserves — are gaining momentum. This approach was pioneered by MicroStrategy (NASDAQ: MSTR) with Bitcoin and BitMine Immersion (NASDAQ: BMNR) with Ethereum, and is now being carried forward by others.

These currents are now converging. Against this backdrop, Mega Matrix Inc. (NYSE American: MPU) is breaking new ground as the first public company to anchor its DAT strategy in stablecoin yield and governance. The Company has designated ENA, the governance token of USDe, as its strategic reserve asset and filed a $2 billion shelf registration to support a systematic plan to accumulate and hold ENA.

As of September 2025, USDe is the world’s third-largest stablecoin by circulation, trailing only Tether (USDT) and Circle (USDC), and the largest fully on-chain stablecoin. Its governance token, ENA, secures the protocol, drives ecosystem growth, and is designed to share in protocol revenues when governance mechanisms are activated. USDe now ranks among the top 20 digital assets by market capitalization, while ENA is within the top 50.

It is important to note that MPU’s strategy is not to purchase USDe directly, but to build a position in ENA. Once the governance-enabled “fee-switch” mechanism is activated, a portion of USDe’s profits will be distributed to ENA holders. With ENA’s supply capped and USDe’s growth potential projected to scale by orders of magnitude, ENA’s long-term value is positioned to rise significantly as the stablecoin market expands.

Colin Butler, Executive Vice President and Global Head of Markets at MPU, commented: “We chose ENA because the USDe protocol has already demonstrated verifiable sustainability. It generated over $100 million in cumulative revenue in just 250 days — one of the fastest DeFi protocols in history to reach that milestone. By August 2025, in about 500 days, USDe expanded its circulation to $10 billion, setting a new record for stablecoin growth speed.”

Songtao Jia, Chief Strategy Officer of MPU, added: “Stablecoins are becoming the backbone of digital finance. As regulatory frameworks solidify and real-world applications expand, we believe the global stablecoin market will steadily progress toward $10 trillion. This is the fundamental logic behind MPU’s focus on stablecoins and ENA. Just as Bitcoin is regarded as ‘digital gold’ and Ethereum as ‘digital oil,’ stablecoins are increasingly recognized as the ‘infrastructure’ of digital finance.”

About Mega Matrix Inc.

Mega Matrix Inc. (NYSE: MPU) is a publicly traded company pioneering the integration of digital assets into corporate treasury strategies. Originally a diversified holding company with interests spanning ETH staking, and short drama streaming services, 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, including ENA, the governance token of the rapidly growing USDe stablecoin protocol, combining potential yield, appreciation, and active governance participation. For more information, please visit the official website.

This industry announcement article is for informational and educational purposes only and does not constitute financial or investment advice.