Decentralized stablecoin platform Ethena has announced an exciting partnership with The Open Network (TON) aimed at integrating its stablecoins into Telegram, which boasts a user base exceeding one billion individuals.
The partnership was unveiled on May 1 at the Token2049 conference in Dubai, marking a significant step towards enhancing financial accessibility through technology. Ethena’s USDe stablecoin, along with its staked variant, Ethena Staked USDe (sUSDe), will be embedded directly within the TON blockchain.
Notably, the sUSDe variant will be rebranded as tsUSDe, providing Telegram users with seamless access to US dollar-denominated savings directly within the messaging platform.
The implementation consists of two significant integrations by Ethena: one will take place within the custodial wallet of Telegram, while the other involves the non-custodial TON Space wallet embedded in the messaging app.
One of Ethena’s Most Meaningful Launches
Ethena characterized its integration with TON as “one of Ethena’s most meaningful launches to date.” This initiative illustrates the platform’s commitment to expanding financial services in regions with limited access to traditional banking systems, particularly in emerging markets across Asia, Africa, and Latin America.
The integration will be rolled out methodically throughout May, featuring support for multiple product lines, including the custodial wallet within Telegram and non-custodial wallets such as TON Space and TON Keeper, along with compatibility for various TON applications.
This is a developing story, and further updates will be provided as more information becomes available.
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