Ethena Labs Collaborates With TON Blockchain to Open Access to USDe Stablecoin for Global Users

Ethena Labs has announced a strategic partnership with the TON blockchain to offer its synthetic stablecoin (USDe) to Telegram’s one billion users. Ethena Labs made the revelation at Token2049 in Dubai today, May 1, 2025.

Ethena Labs, a DeFi protocol running on top of the Ethereum blockchain, operates to provide a cryptocurrency-focused alternative to traditional financial systems. The firm is the developer and operator of the USDe synthetic stablecoin and other native crypto assets. On the other hand, TON (Open Network) is a blockchain platform powering the alternative social media platform Telegram.

The world’s fastest-growing synthetic dollar meets the world’s largest messaging application.@ethena_labs is expanding to @ton_blockchain via LayerZero, unlocking access to USDe for Telegram’s entire user base.1 billion users. $USDe on TON. Powered by LayerZero. pic.twitter.com/kQnmftA1jP

— LayerZero (@LayerZero_Core) May 1, 2025

USDe available to all Telegram users

This collaboration, through the interoperability protocol LayerZero, is set to enable users on the crypto-friendly social messaging platform Telegram to buy, hold, spend, and send USDe on the TON blockchain.

As of 2025, TON has 1 billion monthly active users, making it the second-biggest messaging application globally, especially deeply rooted in emerging market regions like Latin America, Asia, and Africa. With this partnership, TON users can now benefit from Ethena’s USDe (a globally accessible yield-bearing stablecoin) right within their Telegram app.

The integration allows people using both Telegram custodial wallet and non-custodial wallets to access Ethena’s USDe. Also, the stablecoin will able be available for various applications in all DeFi protocols operating on the TON blockchain.

Also, through staking USDe, Telegram users can earn rewards (in the form of Ton Staked USDe – tsUSDe). Both Ethena’s USDe and Ton Staked USDe (tsUSDe) assets will be intrinsically accommodated into the TON blockchain under the collaboration between the three entities. Particularly, tsUSDe will enable Telegram users to access USD savings just right within their social media platforms and can even earn up to 10% APY depending on their savings (holdings)

Growth in stablecoin adoption

Stablecoins, a crucial component of the wider cryptocurrency world, are a major area of focus for TON network. The blockchain is especially hopeful about the capability of USDe and Ethena’s wider ecosystem to redefine the stablecoin world. The Ethena-based stablecoin operates to resolve the centralized challenges experienced by stablecoins.

Ethena, an Ethereum-focused DeFi protocol, does not just focus on building stablecoin. It is developing a holistic ecosystem around USDe. This partnership highlights TON’s continued dedication to supporting digital asset projects that promote innovation and encourage widespread adoption.

Stablecoins contribute a vital role in the growth of the wider digital asset market, and TON is completely helpful for their advancements. As the demand for digital assets continues to surge, stablecoins are poised to experience higher adoption.