One of the rapidly growing synthetic protocols, Ethena is ready to make waves in the financial world by launching a Telegram-based payments app and a new institution-focused token, iUSDe, in the first quarter of 2025.
These new developments are part of the protocol’s strategy to transition into a “neobank” and expand its reach beyond the crypto space.
In the latest announcement, the creator of the protocol has shared its ambitious roadmap. Its core product, USDe, has already gained traction in the stablecoin market with a $6 billion market cap and a unique mechanism to maintain its peg to the U.S. dollar.
The introduction of iUSDe aims to bring crypto-native returns to traditional finance by offering a regulated, institution-friendly version of the synthetic dollar.
Ethena To Leverage Telegram’s Userbase
What stands out in Ethena’s expansion is its integration with Telegram, one of the world’s most popular messaging platforms. The upcoming payments app will leverage the TON blockchain and Apple Pay to facilitate seamless transactions for Telegram’s one billion users. This integration could revolutionize mobile payments, making crypto transactions as easy as sending a message.
The creator shared his secret plan in an interview, that their focus is to bridge the gap between crypto and traditional finance. By leveraging Telegram’s massive user base, they aim to bring billions of dollars in traditional finance flows into the digital economy.
Apart from this, Ethena’s strategic plan includes introducing USDtb, a fiat-backed stablecoin, and new products like Ethereal and Derive, set to debut soon. With these innovations, the protocol aims to reshape both the DeFi and CeFi markets.
Also Read: Ethena (ENA) Whales Dump 3.36M Tokens Amid Market Drop Fears
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