StablecoinX Begins Nasdaq Trading After SPAC Merger Closes
StablecoinX Inc. completed its merger with TLGY Acquisition Corp. and launched on Nasdaq under ticker USDE as the first public stablecoin infrastructure firm.
StablecoinX Inc. began trading on the Nasdaq exchange Wednesday under the ticker symbol USDE after closing its business combination with TLGY Acquisition Corp., a special purpose acquisition company that had been trading on the OTC Pink market. The New York-based firm bills itself as the first publicly traded stablecoin infrastructure company, with operations centered on the Ethena digital dollar ecosystem.
The deal marks a significant milestone for the stablecoin sector, which has faced years of regulatory uncertainty in the United States. By going public through a SPAC merger rather than a traditional IPO, StablecoinX secured a faster path to the public markets while gaining the capital and visibility that a Nasdaq listing provides.
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The timing is notable: Congress has been actively debating stablecoin legislation in 2026, and the arrival of a dedicated public infrastructure company focused on a dollar-pegged digital asset could draw fresh institutional attention to the space. StablecoinX's listing gives investors a direct equity play on stablecoin infrastructure without holding the digital assets themselves.
TLGY Acquisition Corp. had been listed on the OTC Pink sheets under the ticker TLGYF ahead of the transaction's close. With the combination now complete, TLGY ceases to exist as a separate entity and StablecoinX assumes its public-company status on a major U.S. exchange.
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