David Edwards
Decentralized banking platform Ethena has announced a strategic agreement with The Open Network (TON) to roll out its stablecoins to Telegram’s worldwide user base of over one billion, marking a major step toward the mainstream acceptance of stablecoins.
The partnership, which was announced on May 1 at Token2049 in Dubai, allows Ethena’s USDe, a stablecoin linked to the US dollar, and its yield-bearing Staked USDe (sUSDe) to be natively integrated into the TON blockchain ecosystem. Within the network, the yield-bearing token will be rebranded as tsUSDe, making it easier to access savings in dollars straight through Telegram.
The initiative marks a milestone for Ethena, described by the company as “one of its most meaningful launches to date.” It seeks to promote the widespread adoption of decentralized finance by utilizing Telegram’s wide worldwide reach, especially in developing nations in Asia, Africa, and Latin America.
Three main product verticals will be involved in the phased deployment that will take place throughout May: the non-custodial TON Space wallet, the custodial Wallet integrated into Telegram, and additional TON-compatible wallets and decentralized apps, including TON Keeper and other apps in the TON ecosystem.
The goal of the integration is to further integrate blockchain technology into Telegram’s popular messaging platform while improving financial inclusion and user access to reliable savings options. The collaboration has the potential to greatly increase the use of on-chain stablecoins in underbanked areas by fusing the ease of a daily application with decentralized financial products.
The partnership between Ethena and TON highlights the expanding trend of integrating stablecoins into messaging apps, a strategy that could change how digital financial services are distributed and made accessible.
