Ethena Partners with TON Foundation to Bring USDe and sUSDe to Telegram

Ethena Labs and Ethena Foundation have collaborated with TON Foundation to introduce synthetic stablecoins USDe and sUSDe into the Telegram ecosystem, according to an announcement. This integration will bring sUSDe to TON as "tsUSDe", allowing users to access assets directly through Telegram. Ethena's products will also be integrated into Telegram's native wallet and TON-compatible wallets, including Tonkeeper and TONHub. Eligible users holding tsUSDe in a TON wallet can receive an additional 10% annual interest on existing Ethena rewards, up to 10,000 tsUSDe per wallet. "The partnership with TON Foundation marks a significant milestone for Ethena, and we are excited to collaborate with one of the largest distribution platforms and fastest-growing blockchain networks in the world," said Guy Young, Founder of Ethena, in the announcement. "TON is already available within Telegram with over 1 billion users, presenting an excellent opportunity to distribute USDe as a dollar savings vehicle for global users." This partnership aligns with the project's expansion plans for 2025, including payments through Telegram and application development on the TON platform. TON, or The Open Network, is a platform providing blockchain applications within the Telegram messaging app, with over 1 billion users. Ethena Labs is the company developing the Ethena synthetic dollar protocol. The project's synthetic stablecoin USDe has a market Capital of $4.7 billion and has recorded $114.4 million in trading volume in the past 24 hours, according to data from The Block. The total supply of USDe was 4.67 billion on April 30, ranking third in stablecoin supply, only behind Tether's USDT and Circle's USDC.