Ethena Labs to Revolutionize Savings with Telegram App, Targeting 1 Billion Users
Ethena Labs, a pioneering fintech company, is set to revolutionize savings and payments with a new app on Telegram, targeting 1 billion users worldwide. The app is built on sUSDe, a versatile digital asset combining DeFi, CeFi, and TradFi, offering a more flexible and profitable alternative to traditional fixed-income news. Ethena's sUSDe yields tend to increase when interest rates fall, making it an ideal tool for portfolio diversification. The company aims to integrate sUSDe into traditional finance by 2025, marking a significant convergence of TradFi and DeFi. In 2025, Ethena plans to expand its ecosystem by supporting new protocols and applications built on sUSDe. This expansion follows Ethena's successful 2024, where it achieved a supply of $6 billion in USDC and over $1.2 billion in annualized revenue. The Sui Group, in collaboration with Ethena Labs and the Sui Foundation, will enable institutions to use suiUSDe, a synthetic dollar stablecoin based on Ethena's infrastructure. This marks the first native, income-generating stable news on a non-EVM blockchain, paving the way for a new generation of 'Bank SUI' infrastructure. Ethena's innovative approach to finance, with sUSDe at its core, is set to transform savings and payments worldwide. By 2025, Ethena plans to launch a regulated version of sUSDe, iUSDe, for traditional financial entities, further bridging the gap between TradFi and DeFi. The company's ambitious roadmap, coupled with its impressive 2024 performance, signals a promising future for Ethena and its users.
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