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 huge user base that is spread across the globe. With this integration, Telegram’s billion users will be able to access Ethena’s stablecoin with the app.
This launch is said to be important as it will make it easier for the users in Asia, Africa, and Latin America will be able to access, send, pay digital dollars globally and it will make the users participate in the global economy easily.
Key Features of the Collaboration
The rollout is said to be scheduled for May and includes three products which have been listed as below:
With this collaboration, the partnership will be functional on various TON wallets which include TON Space, Tonkeeper and MyTonWallet as per the social media post on X (formerly known as Twitter). The users will also be able to buy as well as stake USDe to earn rewards. According to the X post, some of the users can also earn an extra 10% APY in TON, which will make digital dollar savings attractive to the users.
Ethena is integrating directly with the Telegram wallet and with this, users will be able to earn rewards and access a USDT Earn Vault as well. This move will provide another dollar asset option (USDe) on Telegram’s wallet along with USDT and users will be able to explore additional saving options.
The fintech company is trying to expand its reach into a range of TON DeFi applications as it is including its technology to power key use cases such as trading, lending and savings. With this move, the user will be able to utilise a range of financial services that leverage Ethena’s capabilities and enhance user experience on the TON network.
Ethena Labs and TON Ecosystem Bridging Financial Freedom to Billions
With this partnership, both of the companies are trying to bring financial freedom to billions of people that are struggling with inflation. This partnership is using Telegram’s massive user base and TON’s blockchain tech 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 as well.
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