Ethena to Bring Dollar-Yield Stablecoin to Telegram’s One Billion Users via TON

Ethena to Bring Dollar-Yield Stablecoin to Telegram’s One Billion Users via TON

Strategic Partnership Targets Mass Adoption of tsUSDe in Emerging Markets

Ethena, a decentralized stablecoin platform, has struck a high-impact partnership with The Open Network (TON) to bring its dollar-denominated savings product to Telegram’s global user base of over one billion people.

Announced on May 1 during Token2049 in Dubai, the move introduces tsUSDe — a TON-native version of Ethena’s staked stablecoin sUSDe — into Telegram’s ecosystem via both custodial and non-custodial wallets.

“Telegram has truly global distribution across its billion users,” Ethena stated on X, noting the messaging app’s strong presence across Asia, Africa, and Latin America, where demand for dollar-backed savings is growing.

tsUSDe Rollout Will Span Wallets, DeFi, and Future Banking Tools

The integration will proceed in phases throughout May, covering three key product areas:

• Custodial Wallet in Telegram, directly within the app

• TON Space and TON Keeper, self-custodial wallets embedded in the messenger

• DeFi applications on the TON blockchain

In addition to access, eligible users holding up to 10,000 tsUSDe will receive a 10% APY in TON, alongside Ethena-native rewards, offering a compelling yield-backed dollar experience.

Ethena describes this rollout as “one of its most meaningful launches to date,” paving the way for future integrations such as neobanking, P2P payments, lending, and trading across TON’s decentralized network.

USDe Enters TON via LayerZero, Signals Long-Term Stablecoin War

While tsUSDe has been rebuilt entirely as a TON-native smart contract, Ethena’s core USDe stablecoin will be introduced using LayerZero, a cross-chain interoperability protocol. This dual-track deployment enables deeper participation in the TON economy while tapping into Telegram’s massive user base.

This comes as TON aggressively connects to major blockchain ecosystems like Ethereum, Tron, and Solana, with plans to reach at least 100 chains through LayerZero integration.

Ethena Now Ranks 4th Among Stablecoins by Market Cap

Ethena’s ambitions are backed by its rapid market ascent. USDe now ranks as the fourth-largest stablecoin, trailing only Sky’s USDS, Circle’s USDC, and Tether’s USDT. According to CoinGecko, USDe’s current market cap is $4.7 billion, representing just 3% of USDT’s dominance but showing rapid momentum.

This strategic deployment with TON signals Ethena’s intent to become a household name in global crypto finance, particularly in mobile-first, underbanked regions — a space Telegram already dominates.