Ethena Labs and the Ethena Foundation have announced a landmark partnership with the TON (The Open Network) blockchain, marking a significant step in the expansion of their synthetic dollar, USDe. This collaboration is set to bring Ethena’s core offerings — USDe and staked USDe (sUSDe) — directly into Telegram’s native self-custodial wallet, TON Space.

The integration will allow seamless access to Ethena’s stable asset within one of the world’s most widely used messaging platforms, paving the way for mass adoption across a global user base.

Native Wallet Integration with Telegram

Under this partnership, Ethena’s synthetic dollar and its yield-bearing version will be accessible through TON Space Wallet, Telegram’s native wallet built on the TON blockchain. This means that users can hold, transfer, and potentially make payments using USDe and sUSDe directly within the Telegram app.

This initiative makes Ethena one of the first major decentralised finance (DeFi) protocols to integrate financial services into Telegram Messenger, unlocking access to over 1 billion users globally.

Exclusive Yield Boost for Early Adopters

To incentivise adoption, Ethena Labs is offering a 10% annual percentage yield (APY) boost for users who hold tsUSDe — a TON-compatible version of sUSDe — in their TONNE wallets. The bonus applies to holdings of up to 10,000 tsUSDe per wallet, on top of the current yield users already earn with Ethena’s staking product.

Introducing the product for a billion people:

Today we announce our partnership with @ton_blockchain to power finance’s most powerful use case:

To send, save and pay with a globally accessible dollar

Internet money, now available for @Telegram‘s billion users

Details below: pic.twitter.com/oFjUvVX1CN

— Ethena Labs (@ethena_labs) May 1, 2025

This reward mechanism is designed to encourage early participation and liquidity provision, further accelerating USDe’s distribution within the TON ecosystem.

A Step Toward Ethena’s 2025 Roadmap

Guy Young, Founder of Ethena Labs, described the partnership as a “significant milestone”, highlighting its alignment with the company’s long-term vision. “We’re excited to join forces with one of the largest distribution platforms and fastest-growing blockchain networks in the world,” he stated.

As part of Ethena’s 2025 expansion goals, the team plans to build a TON-based application focused on payments and financial interactions within Telegram. This strategic direction is expected to establish USDe as a widely adopted digital dollar, especially in regions where access to stable financial infrastructure is limited.

Final Thoughts

This partnership between Ethena Labs and TON Foundation is more than a technical integration — it’s a bold move to bridge decentralised finance and mainstream communication. With Telegram’s massive reach and TON’s blockchain scalability, Ethena is positioning USDe to become a global financial tool, accessible at the fingertips of billions.

As the crypto space continues to evolve, collaborations like this highlight the growing importance of user-friendly platforms and cross-chain partnerships in driving DeFi adoption worldwide.