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Ethena Labs and TON Foundation have joined forces to supercharge TON’s blockchain ecosystem.
This partnership brings Ethena’s USDe and sUSDe products to TON. Per the platforms, the aim is to fuel the TON network’s on-chain economy.
With Telegram’s massive user base of over 1 billion, this move promises to make dollar-denominated savings accessible directly within the app.
News of the integration saw Toncoin (TON) token rise slightly, price gaining by about 3% to $3.26. Ethena (ENA) traded around $0.31, with price touching highs of $0.34.
Support for TON wallets
As announced on May 1, Ethena is integrating its staked USDe, dubbed tsUSDe, into TON’s ecosystem.
Users can access it through Telegram’s custodial Wallet and the non-custodial TON Space wallet, developed by The Open Platform (TOP). These wallets are available on both mobile and desktop.
Beyond Telegram’s native wallets, tsUSDe will also be supported by major TON wallets like Tonkeeper, Tonhub, and MyTonWallet.
According to the press release, the broad integration aims at ensuring a smooth experience for users looking to tap into blockchain technology and crypto for on-chain opportunities.
USDe is coming to all major TON wallets and will be integrated ecosystem-wide. Ethena’s assets are rolling out across the ecosystem, you’ll be able to use USDe in all the same ways as Toncoin or USDt. Ready from the launch will be: @wallet_tg, @tonkeeper, @mytonwallet_io,
Notably, Ethena says eligible tsUSDe holders will enjoy a 10% APY boost in TON, plus Ethena rewards on balances up to 10,000 tsUSDe per wallet.
Looking ahead, Ethena and TON plan to roll out more reward programs to enhance APY for TON’s DeFi protocols, driving further growth.
USDe and sUSDe go ecosystem-wide
USDe and sUSDe are now officially recognized across TON’s network, paving the way for diverse DeFi applications.
From lending to trading, these products are set to become key pillars of TON’s DeFi landscape.
This integration not only boosts financial utility but also positions Ethena as a growth catalyst within one of the world’s leading blockchain ecosystems.
The partnership lays the groundwork for future innovations, including neobanking and peer-to-peer payments.
Ethena’s products will power user-friendly interfaces for DeFi lending and trading, with tsUSDe soon live across Telegram Wallet, TON Space, and other major TON wallets.
Payments and Neobank functionalities
Guy Young, Ethena’s founder, called the partnership a “significant milestone.” He highlighted TON’s native integration with Telegram as the perfect platform to distribute USDe globally.
“TON being natively accessible within Telegram and its billion plus users represents a perfect venue to distribute Ethena’s core product USDe as a dollar savings vehicle for global users. We’re also excited to bring payments and neobank functionalities to the application,” Young added.
Max Crown, CEO of TON Foundation, echoed this enthusiasm, noting that tsUSDe’s integration is a “game-changer” for DeFi and PayFi on TON.
“Users now have secure access to yield-generating savings right inside Telegram,” Crown noted.
Ethena and TON’s collaboration comes a few days after TON Foundation announced a major partnership with Libre.
As highlighted, Libre seeks to bring $500 million in tokenised real-world assets to TON, driving growth in fast-expanding RWA market.
With tsUSDe set to roll out across TON’s ecosystem, Ethena and TON Foundation are poised to drive financial innovation and user engagement on one of the fastest-growing blockchain networks.
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