The synthetic stablecoin developer Ethena has entered into a noteworthy collaboration to integrate its cryptocurrencies, USDe and sUSDe, with the Telegram ecosystem.
Partnering with Ethena Labs and the Ethena Foundation, the TON Foundation aims to provide new investment opportunities for Telegram users while significantly expanding Ethena’s global reach. This integration allows users to access new assets, dubbed tsUSDe, directly through their Telegram wallets, offering an annual return of up to 10%.
Ethena’s Integration into Telegram Wallets
The official announcement highlights that users can access Ethena products not only through Telegram’s native wallet but also via other TON-compatible wallets such as Tonkeeper and TONHub. This development marks a significant step both for the cryptocurrency market and Telegram’s position within the Web3 universe.
To enhance user experience, eligible tsUSDe holders are offered an opportunity to earn an additional annual return of up to 10%, applicable to a maximum of 10,000 tsUSDe per person. This provides investors a chance to earn beyond Ethena’s existing rewards.
The integration is more than just a wallet connection. As part of Ethena’s 2025 growth plans, there is an intention to develop specialized applications on the TON network. The company plans to provide payment solutions through Telegram and position USDe as a dollar-indexed savings tool for global users.
Ethena’s founder, Guy Young, expressed that Telegram’s global reach presents a significant opportunity for Ethena.
Young emphasized that TON’s natural integration with Telegram and its over one billion user base offers a unique distribution channel for presenting the USDe product as a global savings vehicle.
Ethena’s Rise and the Impact of USDe
While Ethena Labs develops the synthetic dollar protocol Ethena, the Ethena Foundation operates as an independent entity overseeing the ecosystem’s growth and sustainability. This separation broadens the scope for product development and community support.
USDe currently boasts a market value of $4.7 billion, with a 24-hour trading volume of $114.4 million as of April 30, 2025. The total supply stands at 4.67 billion, ranking it as the third-largest stablecoin, following Tether‘s USDT and Circle’s USDC.
The decentralized nature of Ethena and its rewarding model for investors are deemed crucial in USDe’s rapid growth. The recent TON collaboration is anticipated to extend this growth to a broader audience and enhance Ethena’s impact in the cryptocurrency market.