Ethena Partners With TON To Bring Stablecoins To Telegram's 1 Billion Users
1min read Decentralized stablecoin platform Ethena has announced a significant partnership with The Open Network (TON) to extend the reach of its stablecoins to Telegram’s vast user base, which exceeds one billion people. This collaboration was unveiled on May 1 at the Token2049 event in Dubai. The partnership will facilitate the deployment of Ethena’s USDe (USDE) and Ethena Staked USDe (sUSDe) natively within the TON blockchain.
The sUSDe variant, to be integrated under the name tsUSDe, will enable Telegram users to access US dollar-denominated savings directly within the Telegram platform. This integration involves two major components: one in the custodial Wallet in Telegram and the second in the TON Space wallet, a non-custodial wallet integrated within the messenger.
Ask Aime: What's the impact of Ethena's stablecoin partnership with TON on Telegram's user base?
Ethena highlighted the significance of this launch, describing it as “one of Ethena’s most meaningful launches to date.” The platform emphasized Telegram’s global distribution, noting its extensive presence in emerging economies across regions such as Asia, Africa, and Latin America. This partnership aims to leverage Telegram’s widespread user base to provide access to stablecoin solutions, potentially benefiting users in regions with limited access to traditional financial services.
The integration process will be rolled out in stages throughout May, involving three major product lines: support by Wallet in Telegram, non-custodial wallets like TON Space and TON Keeper, as well as various TON apps. This phased approach ensures a smooth deployment and allows for adjustments based on user feedback and technical requirements.
This partnership between Ethena and TON represents a strategic move to expand the adoption of stablecoins, particularly in regions where traditional financial services may be less accessible. By integrating Ethena’s stablecoins within the TON blockchain and Telegram’s ecosystem, the collaboration aims to provide users with a seamless and secure way to access and utilize stablecoin solutions. This development is expected to enhance financial inclusion and offer new opportunities for users to engage with digital assets.
