Ethena has announced the integration of its synthetic dollar, USDe, and its staked version, sUSDe (tsUSDe), into The Open Network (TON) ecosystem and Telegram wallets. The development aims to enable over a billion Telegram users to access dollar-denominated savings and payment infrastructure.
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
The partnership with the TON Foundation covers three product lines scheduled for a phased rollout in May. This includes integration with non-custodial TON wallets and support within Telegram’s native custodial crypto wallet. The partnership will also deploy across TON’s decentralized finance (DeFi) ecosystem.
Non-Custodial Wallets to Support tsUSDe
Starting in May, USDe and tsUSDe will go live on TON Space, Tonkeeper, MyTonWallet, and TonHub. Users can access these wallets directly on Telegram or through their respective mini-apps. USDe will be available for acquisition through platforms such as STON.fi and Stargate Finance.
Users staking USDe into tsUSDe will receive native Ethena staking rewards. Additionally, a promotional campaign will offer up to 10% annualized returns paid weekly in TON, applicable on holdings up to 10,000 tsUSDe per user. This boost is only available to eligible holders using non-custodial wallets.
Custodial Integration via Telegram Wallet
Telegram’s built-in custodial wallet, Wallet in Telegram, will also integrate Ethena. This will enable users to stake USDT and receive Ethena yields, introducing a second dollar-based asset in the wallet alongside Tether’s USDT. According to Ethena, the move unlocks access to dollar savings for hundreds of millions of Telegram wallet users without requiring them to leave the app.
Ethena compares the user experience of its TON integration to digital money market funds previously launched by Alibaba and Tencent, which collectively attracted $265 billion in deposits from 850 million users. The protocol says it aims to deliver a similar experience, enhanced by sUSDe’s competitive yields compared to traditional risk-free rates.
Expansion Into TON DeFi Ecosystem
Beyond wallets, Ethena will play a key role in supporting the TON DeFi ecosystem by powering lending, trading, fixed-rate swaps, and derivatives. The integration was enabled by LayerZero, which developed an interoperability infrastructure for tsUSDe to function natively across chains, including TON.
USDe can be acquired via centralized exchanges such as Bybit, MEXC, Bitget, and Gate.io or bridged from other chains through Stargate Finance. Additionally, tsUSDe staking is available directly via TON wallets or through the STON.fi interface.
Chris Lion | July 9, 2026
Ephraim Emmanuel | July 7, 2026
