Ethena Labs Will Create Payment Services On Telegram Applications

In his latest roadmap for 2025, Ethena plans to release a payment application on Telegram. (Photo; Doc. CryptoBrowser)

JAKARTA - Ethena Labs as the decentralized financial protocol (DeFi) has announced an ambitious plan for 2025. The crypto project, which has the support of BitMEX founder Arthur Hayes, plans to launch a Telegram-based payment and savings application. Later, the payment application will be integrated by utilizing their synthetic stablecoin, namely sUSDe.

Ethena's efforts are intended to provide financial services that are easily accessible to more than 900 million Telegram users worldwide. Based on the new roadmap released on January 3, 2025, Ethena Labs revealed that this application will allow users to send, spend, and save SUSDe directly through the Telegram messaging platform.

In addition, Ethena will cooperate with Apple Pay to integrate a smooth payment system between SUSTE deposits and mobile payments. Additional information, sUSDe is a stablecoin designed to keep its value stable and pegged to the US dollar.

In addition, Ethena Labs plans to launch iUSDe in February 2025. iUSDe will be built on the sUSDe and will combine token-level transfer restrictions through a simple wrapping contract. The main priority for the first quarter of 2025 is partnering with traditional financial institutions to distribute iUSDe to their clients, with a planned collaboration announcement at the end of January.

That way, Ethena Labs can compete with leading stablecoins like Tether (USDT). Later Ethena Labs will transform from a single asset publisher to Ethena Network, a platform designed for on-chain financial innovation.

While taking advantage of Telegram's popularity and integration with payment services such as Apple Pay, Ethena Labs hopes to provide payment products and savings that are easily accessible to billions of people worldwide.

For additional information, on December 16, 2024, Ethena Labs launched a new stablecoin called USDtb, which is supported by the BlackRock's BUIDL Fund. USDtb operates independently of their existing algorithmic stablecoin, USDE, and is designed to provide flexibility and risk mitigation throughout the Ethena ecosystem.