{"success":true,"data":{"pressRelease":{"id":"73744","rtpr_id":"nGNX7rnSqF","ticker":"TLGYF","exchange":"OTC","all_tickers":["TLGYF"],"title":"StablecoinX Inc. Announces Closing of Business Combination with TLGY Acquisition Corp. and Commencement of Trading on Nasdaq","author":"Globe Newswire","published_at":"2026-06-25T20:36:57.150Z","article_body":"* StablecoinX to begin trading tomorrow (June 26, 2026) on Nasdaq under the\nsymbol “USDE” \n* First public stablecoin infrastructure company focused on supporting the\nEthena ecosystem with infrastructure services & software, USDe distribution\nservices, and a multi-year Ethena governance token (“ENA”) treasury\nstrategy\n* Approximately $275 million in ENA holdings at closing, representing ENA\nassets of approximately $11.42 per fully diluted share based on the 30-day\nVWAP of ENA tokens ending two days prior to closing\nNEW YORK, June 25, 2026 (GLOBE NEWSWIRE) --  StablecoinX Inc. (Nasdaq: USDE)\n(“StablecoinX” or the “Company”), the first public stablecoin\ninfrastructure company focusing on the Ethena digital dollar ecosystem, today\nannounced the closing of its business combination with TLGY Acquisition Corp.\n(OTCPK: TLGYF) (“TLGY”), a publicly traded special purpose acquisition\ncompany.\n\nStablecoinX’s Class A common stock and public warrants will begin trading on\nthe Nasdaq Capital Market under the ticker symbols “USDE” and “USDEW”,\nrespectively, on June 26, 2026. As a result of the closing of the transaction,\nStablecoinX holds approximately 3,029 million ENA tokens valued at\napproximately $275 million, based on the 30-day VWAP of ENA ending two days\nprior to closing of $0.0909, and has approximately 24 million publicly traded\nClass A shares outstanding.\n\n“Closing this transaction marks an important milestone for both StablecoinX\nand the broader digital asset industry,” said Edward Chen, Chief Executive\nOfficer and Chairman of StablecoinX. “We believe Ethena has emerged as one\nof the most important platforms powering the next generation of digital\ndollars. StablecoinX is designed to serve as the public-market gateway to that\necosystem, providing investors with exposure to ENA while supporting the\nlong-term expansion of Ethena’s products, infrastructure, and reach into\ntraditional financial markets.”\n\n“StablecoinX is uniquely positioned at the intersection of public markets,\nstablecoins, and decentralized finance,” said Jin-Goon Kim, Founder and\nChairman of TLGY Acquisition Corp. “I am confident that with the team Edward\nand Young have assembled, backed by the structural partnership with the Ethena\nFoundation, we have fulfilled our mandate to identify an opportunity\npositioned to consistently grow value for shareholders.”\n\nEthena Overview\n\nEthena is one of the largest issuers of digital dollars, with currently $5.4\nbillion of digital dollars in circulation addressing two massive, underserved\nmarket needs: (i) collateral for tokenization with its USDe synthetic digital\ndollar, and (ii) regulated payments with its GENIUS-compliant stablecoin,\nUSDtb. The protocol's deep, first-mover integrations across leading\nderivatives exchanges, custodians, and DeFi platforms create a durable\ncompetitive moat giving partners and users access to better collateral\nutility, and a more capital-efficient dollar.\n\nOperating Business Model\n\nStablecoinX’s business is built around three interconnected operating\npillars: (i) Infrastructure Services (live), (ii) stablecoin middleware\nsoftware (“Stablecoin Harness”), and (iii) Distribution Services. Together\nwith its ENA treasury, these core business lines form a self-reinforcing\nplatform intended to grow alongside the Ethena ecosystem and the broader\nstablecoin economy.\n\n(i) Infrastructure Services: DVN\n* Currently live and operating a Decentralized Verifier Node (“DVN”)\nserving as a cross-chain message verifier for the entire Ethena ecosystem\nacross all blockchain networks that Ethena is currently operating on.\n* DVN fees are charged on processed volume -- not per transaction count --\ncreating a revenue stream that is intended to scale with Ethena’s growth.\n(ii) “Stablecoin Harness”: Middleware Software Stack\n* StablecoinX is building the Stablecoin Harness, a unified middleware stack\nbringing utility and access to Ethena products through a single API platform,\nwhich is not yet live.\n* Once completed, the Stablecoin Harness is expected to deliver, through one\nintegration, payment routing, cross-chain bridging, liquidity aggregation, gas\nabstraction, treasury management, automated yield, institutional reporting,\nwhite label issuance, and compliance orchestration.\n* Revenue for the Stablecoin Harness is expected to be generated through\ntransaction fees on processed volume, SaaS subscription fees, and AUM-based\nfees on treasury and yield products.\n(iii) Distribution Services: Institutional Stablecoin Adoption\n* StablecoinX is developing a distribution business to facilitate the adoption\nof Ethena’s digital dollar products among traditional financial\ninstitutions, asset managers, and investors, which is not yet live.\n* Capital is expected to be raised through debt, equity, hybrid securities, or\noff-balance-sheet vehicles to acquire USDe directly, which will generate both\ndistribution fees and management fees on deployed capital.\nENA Treasury\n* StablecoinX’s 3 billion ENA tokens represent approximately 20% of total\nENA supply, each of which was acquired at a discount to the then current\nmarket price through the transaction. The long-term collaboration agreement\nwith the Ethena Foundation provides the ability to accumulate further ENA at a\ndiscount directly from Ethena.\n* The Company intends to use its ENA Treasury to secure its DVN, verifying\ncross-chain messages for Ethena. The Company’s ENA Treasury also qualifies\nfor ecosystem token airdrops and stands to benefit directly from the\nactivation of Ethena’s protocol fee switch.\nFlywheel\n\nStablecoinX’s three core businesses: infrastructure services, the Stablecoin\nHarness, and a stablecoin distribution business, are designed to help expand\nthe Ethena ecosystem by increasing usage of Ethena products through enhanced\nutility and access. Every increase in Ethena’s ecosystem activity is\nexpected to drive Ethena protocol revenue, increase ENA value, and accrue\nvalue to StablecoinX through its ENA treasury holdings. The increase in value\nto StablecoinX is expected to enhance its access to capital and provide the\nopportunity to purchase additional ENA tokens, further invest in product\ndevelopment, or acquire complementary businesses to expand the Ethena\necosystem.\n\nAddressing a Significant Market Opportunity\n* The global stablecoin market recently surpassed $300 billion in total\ncapitalization, roughly 50% higher than a year ago. * Annual on-chain\ntransaction volume of $33 trillion already rivals legacy card networks, and\nB2B stablecoin payments reached $226 billion in 2025, up more than 730%\nyear-over-year.\n* The stablecoin infrastructure market alone is forecast to grow from $7.6\nbillion today to $89.4 billion by 2034, a 32% CAGR.\n \n* Despite this growth, the market remains structurally fragmented at the\noperating layer. Over 300 stablecoins circulate across 60+ blockchain\nnetworks, forcing enterprises to manage multiple integrations and invest\nextended periods of time of engineering before processing a single\ntransaction.\n* USDe operates across 10+ networks spanning DeFi and traditional finance.\nUSDtb, backed by BlackRock’s BUIDL fund, extends Ethena into institutional\nsettlement.\n* Holding approximately 20% of total ENA supply and building critical\ncross-chain infrastructure across over 10+ blockchain networks, StablecoinX is\npurpose-built to address the fragmented integration stack with a single API\nthrough the Stablecoin Harness (once operational), which will help position it\nas the connective layer of the stablecoin economy.\nExperienced Leadership Team\n\nEdward Chen, Chief Executive Officer and Chairman, brings 20 years of\nexperience across investment banking, research, and public equity investing.\nHe is Founder and CIO of Carnegie Park Capital LLC, a New York-based asset\nmanager principally investing across the SPAC ecosystem, and he previously\nserved as Portfolio Manager at Water Island Capital LLC, a New York-based\nasset manager where he led the firm’s long-short equity portfolios. Prior to\nthat, he was a Managing Director at Jefferies LLC where he led the firm’s\nU.S. Event Driven Strategy effort. Prior to Jefferies, he was a member at\nCiti’s Event-Driven trading desk responsible for due diligence in special\nsituation investments. Edward started his career in finance at Citi’s Media\n& Telecom Investment Banking group. He received an MBA from MIT Sloan School\nof Management and a BSE from the University of Pennsylvania.\n\nYoung Cho, Chief Financial Officer, brings over 27 years across traditional\nfinance and digital assets, and previously served as CEO of TLGY. He is\nFounder and CEO of Blockhouse Digital, a crypto-focused collateralized lending\nand yield-generation asset manager, and previously served as CFO of Hashgraph\nFoundry, CFO of Hedera, and concurrently as CFO and board member of Mount\nRainier Acquisition Corp. -- a Nasdaq SPAC that completed a $1.2 billion\nacquisition of HUB Cyber Security in 2023. Earlier roles include CIO of Abra,\nExecutive Director at UBS Private Finance, Co-founder and Managing Director of\nNewtonian Capital (event-driven hedge fund, Hong Kong), and Director in\nCitigroup’s Global Special Situations Group. He holds a BS in Electrical\nEngineering from Cornell, a Master’s in Financial Engineering from Cornell,\nand an MPA in Economic Policy Management from Columbia; he is also a CFA\ncharterholder.\n\nAhmed J. Aly, Chief Technology Officer, has served as the Company’s CTO\nsince June 2025. Prior to joining StablecoinX, Mr. Aly was the Founder and\nDirector of Easeflow, a blockchain infrastructure-as-a-service company.\nMr. Aly has 14 years of experience in blockchain technology, software\nengineering, and digital asset investment. He has advised multiple companies\nand family offices on blockchain strategy and has led technical due diligence\nacross a range of deployments in the sector. Previously, Mr. Aly served as\nCTO of a crypto hedge fund and has worked extensively on building and scaling\ndistributed systems. He holds a MSc in Software Engineering from Johannes\nKepler Universitat.\n\nAbout StablecoinX\n\nStablecoinX is a publicly traded company offering investors regulated,\ntransparent exposure to the stablecoin economy through its strategic focus on\nEthena, one of the world’s largest issuers of digital dollars. As\nstablecoins increasingly serve as foundational infrastructure for global\npayments, decentralized finance, and digital capital markets, StablecoinX is\npositioned at the center of this structural shift. The Company’s operating\nbusiness develops and delivers infrastructure software and services\npurpose-built to advance and scale the Ethena ecosystem. By combining the\naccessibility of a public market vehicle with deep operational integration\ninto the stablecoin sector, StablecoinX gives traditional investors a direct,\nregulated path into one of the fastest-growing segments of global finance.\n\nAbout TLGY Acquisition Corp.\n\nTLGY Acquisition Corporation was a blank-check company sponsored by Carnegie\nPark Capital LLC, whose business purpose was to effect a merger, share\nexchange, asset acquisition, stock purchase, reorganization, or similar\nbusiness combination with one or more businesses. TLGY was formed to focus on\ngrowth companies through long-term, private equity-style value creation.\n\nForward Looking Statements\n\nThis press release contains certain forward-looking statements within the\nmeaning of the U.S. federal securities laws, including expectations,\nintentions, plans, prospects regarding TLGY, StablecoinX and the Business\nCombination and statements regarding the anticipated commencement of trading\non Nasdaq and StablecoinX’s vision and business strategy. These\nforward-looking statements are generally identified by the words\n“believe,” “project,” “expect,” “anticipate,” “estimate,”\n“intend,” “strategy,” “future,” “opportunity,”\n“potential,” “plan,” “may,” “should,” “will,” “would,”\n“will be,” “will continue,” “will likely result,” and similar\nexpressions. Forward-looking statements are predictions, projections and other\nstatements about future events or conditions that are based on current\nexpectations and assumptions and, as a result, are subject to risks and\nuncertainties. Many factors could cause actual future events to differ\nmaterially from the forward-looking statements in this press release,\nincluding, but not limited to, the failure of StablecoinX to maintain the\nlisting of its shares of Class A common stock; costs related to the Business\nCombination and as a result of becoming a public company; changes in business,\nmarket, financial, political and regulatory conditions; risks relating to\nStablecoinX’s anticipated operations and business; the risk that the\nanticipated benefits of the Business Combination may not be realized, the\nhighly volatile nature of the price of ENA and other products issued by\nEthena; risks related to increased competition in the industries in which\nStablecoinX will operate; risks relating to significant legal, commercial,\nregulatory and technical uncertainty regarding crypto assets, including\nstablecoins; risks relating to the treatment of crypto assets for U.S. and\nforeign tax purposes; risks that StablecoinX experiences difficulties managing\nits growth and expanding operations; challenges in implementing\nStablecoinX’s business plan including developing and launching its\ninfrastructure services, Stablecoin Harness middleware and distribution\nservices, due to operational challenges, significant competition and\nregulation or other reasons; the outcome of any potential legal proceedings\nthat may be instituted against StablecoinX or others following the closing of\nthe Business Combination, and other risks and uncertainties described in the\nfilings of TLGY and StablecoinX with the Securities and Exchange Commission\n(the “SEC”). The inclusion of any statement in this press release does not\nconstitute an admission by StablecoinX or any other person that the events or\ncircumstances described in such statement are material.\n\nThe foregoing list of risk factors is not exhaustive. You should carefully\nconsider the foregoing factors and the other risks and uncertainties described\nin the “Risk Factors” section of the definitive proxy statement of TLGY\nand final prospectus of StablecoinX, each dated as of February 17, 2026 and as\nfurther supplemented, and other documents that have been filed by TLGY and\nStablecoinX with the SEC and other documents to be filed by StablecoinX from\ntime to time with the SEC. These filings do or will identify and address other\nimportant risks and uncertainties that could cause actual events and results\nto differ materially from those contained in the forward-looking statements.\nThere may be additional risks that StablecoinX does not presently know or that\nStablecoinX currently believes are immaterial that could also cause actual\nresults to differ from those contained in the forward-looking statements.\n\nForward-looking statements speak only as of the date they are made. Readers\nare cautioned not to put undue reliance on forward-looking statements, and\nStablecoinX assumes no obligation and does not intend to update or revise\nthese forward-looking statements, whether as a result of new information,\nfuture events, or otherwise. StablecoinX does not give any assurance that\neither it will achieve its expectations. The inclusion of any statement in\nthis press release does not constitute an admission by StablecoinX or any\nother person that the events or circumstances described in such statement are\nmaterial.\n\nContacts\n\nInvestor Relations:\nStablecoinX\nAdele Carey\nSVP, Investor Relations\nstablecoinxir@allianceadvisors.com\n\nMedia Relations:\nAlliance Advisors IR\nAayushi\nPR & Media Associate\nmedia@allianceadvisors.com\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX7rnSqF","title":"StablecoinX Inc. Announces Closing of Business Combination with TLGY Acquisition Corp. and Commencement of Trading on Nasdaq","author":"Globe Newswire","ticker":"TLGYF","created":"2026-06-25T20:36:57.150Z","tickers":["TLGYF"],"exchange":"OTC","article_body":"* StablecoinX to begin trading tomorrow (June 26, 2026) on Nasdaq under the\nsymbol “USDE” \n* First public stablecoin infrastructure company focused on supporting the\nEthena ecosystem with infrastructure services & software, USDe distribution\nservices, and a multi-year Ethena governance token (“ENA”) treasury\nstrategy\n* Approximately $275 million in ENA holdings at closing, representing ENA\nassets of approximately $11.42 per fully diluted share based on the 30-day\nVWAP of ENA tokens ending two days prior to closing\nNEW YORK, June 25, 2026 (GLOBE NEWSWIRE) --  StablecoinX Inc. (Nasdaq: USDE)\n(“StablecoinX” or the “Company”), the first public stablecoin\ninfrastructure company focusing on the Ethena digital dollar ecosystem, today\nannounced the closing of its business combination with TLGY Acquisition Corp.\n(OTCPK: TLGYF) (“TLGY”), a publicly traded special purpose acquisition\ncompany.\n\nStablecoinX’s Class A common stock and public warrants will begin trading on\nthe Nasdaq Capital Market under the ticker symbols “USDE” and “USDEW”,\nrespectively, on June 26, 2026. As a result of the closing of the transaction,\nStablecoinX holds approximately 3,029 million ENA tokens valued at\napproximately $275 million, based on the 30-day VWAP of ENA ending two days\nprior to closing of $0.0909, and has approximately 24 million publicly traded\nClass A shares outstanding.\n\n“Closing this transaction marks an important milestone for both StablecoinX\nand the broader digital asset industry,” said Edward Chen, Chief Executive\nOfficer and Chairman of StablecoinX. “We believe Ethena has emerged as one\nof the most important platforms powering the next generation of digital\ndollars. StablecoinX is designed to serve as the public-market gateway to that\necosystem, providing investors with exposure to ENA while supporting the\nlong-term expansion of Ethena’s products, infrastructure, and reach into\ntraditional financial markets.”\n\n“StablecoinX is uniquely positioned at the intersection of public markets,\nstablecoins, and decentralized finance,” said Jin-Goon Kim, Founder and\nChairman of TLGY Acquisition Corp. “I am confident that with the team Edward\nand Young have assembled, backed by the structural partnership with the Ethena\nFoundation, we have fulfilled our mandate to identify an opportunity\npositioned to consistently grow value for shareholders.”\n\nEthena Overview\n\nEthena is one of the largest issuers of digital dollars, with currently $5.4\nbillion of digital dollars in circulation addressing two massive, underserved\nmarket needs: (i) collateral for tokenization with its USDe synthetic digital\ndollar, and (ii) regulated payments with its GENIUS-compliant stablecoin,\nUSDtb. The protocol's deep, first-mover integrations across leading\nderivatives exchanges, custodians, and DeFi platforms create a durable\ncompetitive moat giving partners and users access to better collateral\nutility, and a more capital-efficient dollar.\n\nOperating Business Model\n\nStablecoinX’s business is built around three interconnected operating\npillars: (i) Infrastructure Services (live), (ii) stablecoin middleware\nsoftware (“Stablecoin Harness”), and (iii) Distribution Services. Together\nwith its ENA treasury, these core business lines form a self-reinforcing\nplatform intended to grow alongside the Ethena ecosystem and the broader\nstablecoin economy.\n\n(i) Infrastructure Services: DVN\n* Currently live and operating a Decentralized Verifier Node (“DVN”)\nserving as a cross-chain message verifier for the entire Ethena ecosystem\nacross all blockchain networks that Ethena is currently operating on.\n* DVN fees are charged on processed volume -- not per transaction count --\ncreating a revenue stream that is intended to scale with Ethena’s growth.\n(ii) “Stablecoin Harness”: Middleware Software Stack\n* StablecoinX is building the Stablecoin Harness, a unified middleware stack\nbringing utility and access to Ethena products through a single API platform,\nwhich is not yet live.\n* Once completed, the Stablecoin Harness is expected to deliver, through one\nintegration, payment routing, cross-chain bridging, liquidity aggregation, gas\nabstraction, treasury management, automated yield, institutional reporting,\nwhite label issuance, and compliance orchestration.\n* Revenue for the Stablecoin Harness is expected to be generated through\ntransaction fees on processed volume, SaaS subscription fees, and AUM-based\nfees on treasury and yield products.\n(iii) Distribution Services: Institutional Stablecoin Adoption\n* StablecoinX is developing a distribution business to facilitate the adoption\nof Ethena’s digital dollar products among traditional financial\ninstitutions, asset managers, and investors, which is not yet live.\n* Capital is expected to be raised through debt, equity, hybrid securities, or\noff-balance-sheet vehicles to acquire USDe directly, which will generate both\ndistribution fees and management fees on deployed capital.\nENA Treasury\n* StablecoinX’s 3 billion ENA tokens represent approximately 20% of total\nENA supply, each of which was acquired at a discount to the then current\nmarket price through the transaction. The long-term collaboration agreement\nwith the Ethena Foundation provides the ability to accumulate further ENA at a\ndiscount directly from Ethena.\n* The Company intends to use its ENA Treasury to secure its DVN, verifying\ncross-chain messages for Ethena. The Company’s ENA Treasury also qualifies\nfor ecosystem token airdrops and stands to benefit directly from the\nactivation of Ethena’s protocol fee switch.\nFlywheel\n\nStablecoinX’s three core businesses: infrastructure services, the Stablecoin\nHarness, and a stablecoin distribution business, are designed to help expand\nthe Ethena ecosystem by increasing usage of Ethena products through enhanced\nutility and access. Every increase in Ethena’s ecosystem activity is\nexpected to drive Ethena protocol revenue, increase ENA value, and accrue\nvalue to StablecoinX through its ENA treasury holdings. The increase in value\nto StablecoinX is expected to enhance its access to capital and provide the\nopportunity to purchase additional ENA tokens, further invest in product\ndevelopment, or acquire complementary businesses to expand the Ethena\necosystem.\n\nAddressing a Significant Market Opportunity\n* The global stablecoin market recently surpassed $300 billion in total\ncapitalization, roughly 50% higher than a year ago. * Annual on-chain\ntransaction volume of $33 trillion already rivals legacy card networks, and\nB2B stablecoin payments reached $226 billion in 2025, up more than 730%\nyear-over-year.\n* The stablecoin infrastructure market alone is forecast to grow from $7.6\nbillion today to $89.4 billion by 2034, a 32% CAGR.\n \n* Despite this growth, the market remains structurally fragmented at the\noperating layer. Over 300 stablecoins circulate across 60+ blockchain\nnetworks, forcing enterprises to manage multiple integrations and invest\nextended periods of time of engineering before processing a single\ntransaction.\n* USDe operates across 10+ networks spanning DeFi and traditional finance.\nUSDtb, backed by BlackRock’s BUIDL fund, extends Ethena into institutional\nsettlement.\n* Holding approximately 20% of total ENA supply and building critical\ncross-chain infrastructure across over 10+ blockchain networks, StablecoinX is\npurpose-built to address the fragmented integration stack with a single API\nthrough the Stablecoin Harness (once operational), which will help position it\nas the connective layer of the stablecoin economy.\nExperienced Leadership Team\n\nEdward Chen, Chief Executive Officer and Chairman, brings 20 years of\nexperience across investment banking, research, and public equity investing.\nHe is Founder and CIO of Carnegie Park Capital LLC, a New York-based asset\nmanager principally investing across the SPAC ecosystem, and he previously\nserved as Portfolio Manager at Water Island Capital LLC, a New York-based\nasset manager where he led the firm’s long-short equity portfolios. Prior to\nthat, he was a Managing Director at Jefferies LLC where he led the firm’s\nU.S. Event Driven Strategy effort. Prior to Jefferies, he was a member at\nCiti’s Event-Driven trading desk responsible for due diligence in special\nsituation investments. Edward started his career in finance at Citi’s Media\n& Telecom Investment Banking group. He received an MBA from MIT Sloan School\nof Management and a BSE from the University of Pennsylvania.\n\nYoung Cho, Chief Financial Officer, brings over 27 years across traditional\nfinance and digital assets, and previously served as CEO of TLGY. He is\nFounder and CEO of Blockhouse Digital, a crypto-focused collateralized lending\nand yield-generation asset manager, and previously served as CFO of Hashgraph\nFoundry, CFO of Hedera, and concurrently as CFO and board member of Mount\nRainier Acquisition Corp. -- a Nasdaq SPAC that completed a $1.2 billion\nacquisition of HUB Cyber Security in 2023. Earlier roles include CIO of Abra,\nExecutive Director at UBS Private Finance, Co-founder and Managing Director of\nNewtonian Capital (event-driven hedge fund, Hong Kong), and Director in\nCitigroup’s Global Special Situations Group. He holds a BS in Electrical\nEngineering from Cornell, a Master’s in Financial Engineering from Cornell,\nand an MPA in Economic Policy Management from Columbia; he is also a CFA\ncharterholder.\n\nAhmed J. Aly, Chief Technology Officer, has served as the Company’s CTO\nsince June 2025. Prior to joining StablecoinX, Mr. Aly was the Founder and\nDirector of Easeflow, a blockchain infrastructure-as-a-service company.\nMr. Aly has 14 years of experience in blockchain technology, software\nengineering, and digital asset investment. He has advised multiple companies\nand family offices on blockchain strategy and has led technical due diligence\nacross a range of deployments in the sector. Previously, Mr. Aly served as\nCTO of a crypto hedge fund and has worked extensively on building and scaling\ndistributed systems. He holds a MSc in Software Engineering from Johannes\nKepler Universitat.\n\nAbout StablecoinX\n\nStablecoinX is a publicly traded company offering investors regulated,\ntransparent exposure to the stablecoin economy through its strategic focus on\nEthena, one of the world’s largest issuers of digital dollars. As\nstablecoins increasingly serve as foundational infrastructure for global\npayments, decentralized finance, and digital capital markets, StablecoinX is\npositioned at the center of this structural shift. The Company’s operating\nbusiness develops and delivers infrastructure software and services\npurpose-built to advance and scale the Ethena ecosystem. By combining the\naccessibility of a public market vehicle with deep operational integration\ninto the stablecoin sector, StablecoinX gives traditional investors a direct,\nregulated path into one of the fastest-growing segments of global finance.\n\nAbout TLGY Acquisition Corp.\n\nTLGY Acquisition Corporation was a blank-check company sponsored by Carnegie\nPark Capital LLC, whose business purpose was to effect a merger, share\nexchange, asset acquisition, stock purchase, reorganization, or similar\nbusiness combination with one or more businesses. TLGY was formed to focus on\ngrowth companies through long-term, private equity-style value creation.\n\nForward Looking Statements\n\nThis press release contains certain forward-looking statements within the\nmeaning of the U.S. federal securities laws, including expectations,\nintentions, plans, prospects regarding TLGY, StablecoinX and the Business\nCombination and statements regarding the anticipated commencement of trading\non Nasdaq and StablecoinX’s vision and business strategy. These\nforward-looking statements are generally identified by the words\n“believe,” “project,” “expect,” “anticipate,” “estimate,”\n“intend,” “strategy,” “future,” “opportunity,”\n“potential,” “plan,” “may,” “should,” “will,” “would,”\n“will be,” “will continue,” “will likely result,” and similar\nexpressions. Forward-looking statements are predictions, projections and other\nstatements about future events or conditions that are based on current\nexpectations and assumptions and, as a result, are subject to risks and\nuncertainties. Many factors could cause actual future events to differ\nmaterially from the forward-looking statements in this press release,\nincluding, but not limited to, the failure of StablecoinX to maintain the\nlisting of its shares of Class A common stock; costs related to the Business\nCombination and as a result of becoming a public company; changes in business,\nmarket, financial, political and regulatory conditions; risks relating to\nStablecoinX’s anticipated operations and business; the risk that the\nanticipated benefits of the Business Combination may not be realized, the\nhighly volatile nature of the price of ENA and other products issued by\nEthena; risks related to increased competition in the industries in which\nStablecoinX will operate; risks relating to significant legal, commercial,\nregulatory and technical uncertainty regarding crypto assets, including\nstablecoins; risks relating to the treatment of crypto assets for U.S. and\nforeign tax purposes; risks that StablecoinX experiences difficulties managing\nits growth and expanding operations; challenges in implementing\nStablecoinX’s business plan including developing and launching its\ninfrastructure services, Stablecoin Harness middleware and distribution\nservices, due to operational challenges, significant competition and\nregulation or other reasons; the outcome of any potential legal proceedings\nthat may be instituted against StablecoinX or others following the closing of\nthe Business Combination, and other risks and uncertainties described in the\nfilings of TLGY and StablecoinX with the Securities and Exchange Commission\n(the “SEC”). The inclusion of any statement in this press release does not\nconstitute an admission by StablecoinX or any other person that the events or\ncircumstances described in such statement are material.\n\nThe foregoing list of risk factors is not exhaustive. You should carefully\nconsider the foregoing factors and the other risks and uncertainties described\nin the “Risk Factors” section of the definitive proxy statement of TLGY\nand final prospectus of StablecoinX, each dated as of February 17, 2026 and as\nfurther supplemented, and other documents that have been filed by TLGY and\nStablecoinX with the SEC and other documents to be filed by StablecoinX from\ntime to time with the SEC. These filings do or will identify and address other\nimportant risks and uncertainties that could cause actual events and results\nto differ materially from those contained in the forward-looking statements.\nThere may be additional risks that StablecoinX does not presently know or that\nStablecoinX currently believes are immaterial that could also cause actual\nresults to differ from those contained in the forward-looking statements.\n\nForward-looking statements speak only as of the date they are made. Readers\nare cautioned not to put undue reliance on forward-looking statements, and\nStablecoinX assumes no obligation and does not intend to update or revise\nthese forward-looking statements, whether as a result of new information,\nfuture events, or otherwise. StablecoinX does not give any assurance that\neither it will achieve its expectations. The inclusion of any statement in\nthis press release does not constitute an admission by StablecoinX or any\nother person that the events or circumstances described in such statement are\nmaterial.\n\nContacts\n\nInvestor Relations:\nStablecoinX\nAdele Carey\nSVP, Investor Relations\nstablecoinxir@allianceadvisors.com\n\nMedia Relations:\nAlliance Advisors IR\nAayushi\nPR & Media Associate\nmedia@allianceadvisors.com\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-06-25T20:36:57.191656927Z","server_sent_at_ms":1782419817191},"received_at":"2026-06-25T20:36:57.343Z","source_url":null},"analysis":{"id":"63109","press_release_id":"73744","analysis_json":{"industry":{"label":"Financial Markets","sector":"Financials"},"redFlags":["Highly volatile nature of the price of ENA","Significant legal, commercial, regulatory and technical uncertainty regarding crypto assets"],"eventType":"m_and_a","narrative":"StablecoinX closed its business combination with TLGY Acquisition Corp., with shares and warrants set to begin trading on Nasdaq under the tickers 'USDE' and 'USDEW' respectively.\n\nThe transaction closed with StablecoinX holding approximately 3,029 million ENA tokens valued at $275 million, representing roughly 20% of the total ENA supply.\n\nThe company aims to serve as a public-market gateway to the Ethena ecosystem, focusing on infrastructure services, middleware software, and distribution.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"De-SPAC complete: StablecoinX (USDE) starts trading tomorrow with $275M in ENA treasury."},"keyFigures":{"dealValueUsd":275000000,"customDimensions":{"ENA_tokens":"3,029 million","ENA_30_day_VWAP":"$0.0909","ENA_holdings_value":"$275 million","public_shares_outstanding":"24 million","ENA_value_per_fully_diluted_share":"$11.42","Ethena_digital_dollars_in_circulation":"$5.4 billion"}},"quotedText":"Closing this transaction marks an important milestone for both StablecoinX and the broader digital asset industry","namedEntities":{"people":[{"name":"Edward Chen","role":"CEO and Chairman of StablecoinX"},{"name":"Jin-Goon Kim","role":"Founder and Chairman of TLGY Acquisition Corp."},{"name":"Young Cho","role":"CFO"},{"name":"Ahmed J. Aly","role":"CTO"}],"products":["USDe","USDtb","Stablecoin Harness","Decentralized Verifier Node (DVN)"],"companies":[{"name":"StablecoinX Inc.","ticker":"USDE"},{"name":"TLGY Acquisition Corp.","ticker":"TLGYF","relationship":"acquirer / SPAC"},{"name":"Ethena Foundation","relationship":"partner"},{"name":"Carnegie Park Capital LLC","relationship":"sponsor"},{"name":"BlackRock","relationship":"asset manager backing USDtb"}],"dollarAmounts":[{"amount":"$275 million","context":"value of ENA holdings at closing"},{"amount":"$5.4 billion","context":"Ethena digital dollars in circulation"},{"amount":"$33 trillion","context":"annual on-chain transaction volume of stablecoins"},{"amount":"$226 billion","context":"B2B stablecoin payments in 2025"},{"amount":"$7.6 billion","context":"current stablecoin infrastructure market size"},{"amount":"$89.4 billion","context":"forecasted stablecoin infrastructure market size by 2034"}]},"materialImpact":{"score":5,"reasoning":"De-SPAC transaction closed with immediate commencement of trading on Nasdaq. This represents a definitive corporate transformation event for the filer (TLGYF), including a name change to StablecoinX and a ticker change to USDE, backed by a significant asset treasury."},"tickerRelevance":{"others":[{"ticker":"USDE","relevance":"successor ticker"},{"ticker":"USDEW","relevance":"warrant ticker"}],"primary":"TLGYF"},"globalImportance":45,"audienceRelevance":50,"eventTypeSecondary":["ticker_change"],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"de-SPAC listing / corporate action","sectorWeight":"crypto / digital assets"}},"event_type":"m_and_a","event_type_secondary":["ticker_change"],"sentiment":"bullish","material_impact_score":5,"narrative":"StablecoinX closed its business combination with TLGY Acquisition Corp., with shares and warrants set to begin trading on Nasdaq under the tickers 'USDE' and 'USDEW' respectively.\n\nThe transaction closed with StablecoinX holding approximately 3,029 million ENA tokens valued at $275 million, representing roughly 20% of the total ENA supply.\n\nThe company aims to serve as a public-market gateway to the Ethena ecosystem, focusing on infrastructure services, middleware software, and distribution.","key_figures":{"dealValueUsd":275000000,"customDimensions":{"ENA_tokens":"3,029 million","ENA_30_day_VWAP":"$0.0909","ENA_holdings_value":"$275 million","public_shares_outstanding":"24 million","ENA_value_per_fully_diluted_share":"$11.42","Ethena_digital_dollars_in_circulation":"$5.4 billion"}},"named_entities":{"people":[{"name":"Edward Chen","role":"CEO and Chairman of StablecoinX"},{"name":"Jin-Goon Kim","role":"Founder and Chairman of TLGY Acquisition Corp."},{"name":"Young Cho","role":"CFO"},{"name":"Ahmed J. Aly","role":"CTO"}],"products":["USDe","USDtb","Stablecoin Harness","Decentralized Verifier Node (DVN)"],"companies":[{"name":"StablecoinX Inc.","ticker":"USDE"},{"name":"TLGY Acquisition Corp.","ticker":"TLGYF","relationship":"acquirer / SPAC"},{"name":"Ethena Foundation","relationship":"partner"},{"name":"Carnegie Park Capital LLC","relationship":"sponsor"},{"name":"BlackRock","relationship":"asset manager backing USDtb"}],"dollarAmounts":[{"amount":"$275 million","context":"value of ENA holdings at closing"},{"amount":"$5.4 billion","context":"Ethena digital dollars in circulation"},{"amount":"$33 trillion","context":"annual on-chain transaction volume of stablecoins"},{"amount":"$226 billion","context":"B2B stablecoin payments in 2025"},{"amount":"$7.6 billion","context":"current stablecoin infrastructure market size"},{"amount":"$89.4 billion","context":"forecasted stablecoin infrastructure market size by 2034"}]},"model_name":"qwen3_6_27b_awq","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-06-25T20:37:54.128Z","global_importance":45,"audience_relevance":50,"importance_components":{"tickerTier":"small-cap","eventGravity":"de-SPAC listing / corporate action","sectorWeight":"crypto / digital assets"}},"durationMs":56774,"modelName":"george-droid-qwen-72b"}}