Ethena Sets 2025 Vision with Telegram Payments and TradFi Adoption

On January 3, Ethena Labs released its 2025 roadmap, which included a savings and payment app built on Telegram that makes use of its sUSDe stablecoin.

The roadmap aims to use Telegram to provide a more straightforward neobanking experience. The idea calls for users to utilize the Telegram clients to send, spend, and store sUSDe directly inside the chat network.

Additionally, the app will interface with Apple Pay, enabling smooth switching between mobile payments and sUSDe savings. Additionally, Ethena’s roadmap described how it plans to compete with Tether by changing from a single-asset issuer to Ethena Network, a platform for financial innovation on the blockchain.

Ethena Labs commented, “Rather than compete directly with payments companies on their own turf, we plan to address the payments and savings tool use case via building a dedicated application on Telegram and within the TON ecosystem” The blockchain network intends to introduce iUSDe in February as part of this change. Ethena’s synthetic dollar, sUSDe, will serve as the foundation for iUSDe.

It will use a “simple wrapper contract” to implement token-level transfer limitations. Collaborating with conventional financial institutions to provide iUSDe to their customers is a top focus for the first quarter of 2025. By the end of January, Ethena plans to make these partnerships public.

In connection with a governance plan that is now being reviewed, the business also joined with World Liberty Financial (WLFI), which is supported by Trump. Staked USDe, or sUSDe, will be a key collateral asset on WLFI’s Aave instance if it is accepted. Additionally, since December, there has been a notable increase in Ethena’s native token, ENA.

Over the previous week, the cryptocurrency has increased 33%, including a 15% spike when the plan was revealed. A number of stablecoin-powered products, such as perpetual goods, prediction markets, gamble finance platforms, and undercollateralized loans, were also alluded to in the roadmap and are scheduled for deployment this quarter. Ethena’s goal of growing its footprint inside the decentralized financial ecosystem is in line with these trends.

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