Ethena Labs collaborates with TON to incorporate USDe into the Telegram ecosystem.

Ethena Labs, the organization responsible for the synthetic dollar known as USDe, has revealed a new partnership with the TON blockchain.

A statement released on May 1 highlighted that this collaboration will integrate both USDe and its yield-earning version, sUSDe, directly into the Telegram platform.

Ethena expressed:

“This marks one of our most significant launches ever. Users on Telegram, particularly in emerging markets, can now easily utilize a globally accessible dollar savings tool through Ethena’s USDe right within their app.”

Yield opportunities

The integration allows users to access USDe through Telegram’s built-in wallet and creates opportunities for stable yield products within the messaging interface.

To encourage user engagement, Ethena will provide an additional 10% annual percentage yield (APY) for individuals holding Ton Staked USDe (tsUSDe) in non-custodial wallets.

This bonus, disbursed weekly in TON tokens, is applicable to holdings up to 10,000 tsUSDe per user, in addition to the standard yield derived from sUSDe.

Ethena is also launching a “USDT Earn” feature, allowing users to deposit USDT and earn interest tied to the performance of USDe, effectively linking traditional stablecoins with higher-yield synthetic alternatives.

The company likens its model to the successful digital savings offerings seen in Asia, where social messaging applications like WeChat have drawn in significant user funds by embedding yield tools directly in their platforms.

Ethena sees a similar opportunity with its collaboration with TON, buoyed by the more attractive return profiles provided by sUSDe.

Fueling TON’s DeFi ecosystem

The partnership will also extend beyond Telegram’s integrated wallet, ensuring that Ethena’s assets are compatible with leading TON-based non-custodial wallets such as Tonkeeper, MyTon Wallet, and TON Space.

This sets the stage for a more comprehensive DeFi experience, enabling Telegram users to save, trade, lend, and access various on-chain services via TON.

Additionally, Ethena intends to introduce payment options including debit cards and Apple Pay by the third quarter. Subject to regulatory approval, Telegram users will soon be able to utilize their tsUSDe rewards for everyday purchases.

The firm noted that more Ethena-driven tools designed for the TON ecosystem are in the pipeline, aiming to simplify on-chain financial activities as seamlessly as messaging.