Ethena Labs Integrates Its USDe Stablecoin Solution with TON Foundation to Bring Digital Dollar Savings and Payment Option to Telegram's Huge User Base

Ethena Labs, a company that builds crypto-native synthetic dollar solution for global finance, has announced its collaboration with TON Foundation to bring US-dollar based saving and payment option to Telegram's massive user base that is spread across the globe.

Ethena Labs, a company that builds crypto-native synthetic dollar solutions for global finance, has announced its collaboration with TON Foundation to bring US-dollar based saving and payment options to Telegram's huge user base that is spread across the globe.

Key Features of the Collaboration

With this integration, Telegram's billion users will be able to access Ethena's stablecoin and easily participate in the global economy. The launch is scheduled for May and includes three products which have been listed as below:

* Direct integration of Ethena's stablecoin (USDe) into the Telegram wallet will provide users with a seamless way to access, send, and pay with digital dollars globally.

* Users will be able to buy and stake USDe to earn rewards. Some users can also earn an extra 10% APY in TON, making digital dollar savings even more attractive.

* Ethena is integrating directly with the Telegram wallet, where users can earn rewards and access a USDT Earn Vault. This move will provide another dollar asset option (USDe) on Telegram's wallet, expanding the possibilities for users.

Excited to announce our collaboration with @TONFoundation to bring US dollar-based saving and payment options to Telegram's billion-plus users worldwide! 🌎 This integration will introduce Ethena's stablecoin and open up a world of financial possibilities for the Telegram community. As part of… pic.twitter.com/O9pG9H9D0Z

— Ethena Labs (@EthenaLabs) April 17, 2024

The partnership will be functional on various TON wallets such as TON Space, Tonkeeper and MyTonWallet as per the social media post on X (formerly known as Twitter).

The post further stated that the partnership is aiming to bring financial freedom to billions of people who are struggling with inflation. It is using Telegram's massive user base and TON's blockchain technology to make it easier for users to earn rewards, make payments, and spend their digital money in real life with Apple Pay and debit cards.

Ethena Labs and TON Foundation are joining forces to introduce US dollar-based saving and payment options to Telegram's vast user base, spanning over a billion individuals across the globe. This integration will seamlessly introduce Ethena's stablecoin, opening up a world of financial possibilities for the Telegram community.

The initiative is designed to empower users in countries like India, Brazil, Vietnam, Nigeria, and Turkey to effortlessly access, send, and pay with digital dollars, facilitating their participation in the global economy.

This integration will also make it easier for users to buy and stake Ethena's stablecoin to earn rewards. Moreover, some users can earn an extra 10% APY in TON, rendering digital dollar savings even more appealing.

Ethena is integrating directly with the Telegram wallet, where users can earn rewards and access a USDT Earn Vault. This move will provide another dollar asset option (USDe) on Telegram's wallet, expanding the possibilities for users.

The partnership is set to launch in May, offering three key products: Ethena US dollar savings, Ethena US dollar debit card and Ethena US dollar payments.

The partnership will be functional on various TON wallets such as TON Space, Tonkeeper and MyTonWallet.

The post on X reads: "We are excited to announce our collaboration with TON Foundation to bring US dollar-based saving and payment options to Telegram's billion-plus users worldwide. This integration will introduce Ethena's crypto-native synthetic dollar to provide users with a seamless way to access, send, and pay with digital dollars globally, facilitating their participation in the global economy.

"The initiative is designed to empower users in countries like India, Brazil, Vietnam, Nigeria, and Turkey to easily send, spend, and use their digital money in real life with Apple Pay and debit cards.

"As part of the integration, users will be able to buy and stake USDe to earn rewards. Some users can also earn an extra 10% APY in TON, rendering digital dollar savings even more attractive.

"Ethena is integrating directly with the Telegram wallet, where users can earn rewards and access a USDT Earn Vault. This move will provide another dollar asset option (USDe) on Telegram's wallet, expanding the possibilities for users and providing additional saving options."

The post further stated that Ethena is expanding its reach into a range of TON DeFi applications, including its technology to power key use cases such as trading, lending, and savings. This will enable users to readily utilise a range of financial services that leverage Ethena's capabilities and enhance user experience on the TON network.

Ethena Labs and TON Foundation are joining forces to bring financial freedom to billions of people who are struggling with inflation.

This partnership is using Telegram's massive user base and TON'