USDT Stablecoin Launches on TON Blockchain
2 min read
USDT Stablecoin Launches on TON Blockchain
Tether, the operator of the popular stablecoin, is strengthening its relationship with Telegram’s Web3 ecosystem by launching its stablecoins on the TON blockchain. The announcement was made by Tether Operations, along with Tether CEO Paolo Ardoino and Telegram founder Pavel Durov, during a crypto event called Token2049 in Dubai. Tether also revealed its restructuring plans and introduced four new business divisions. According to Ardoino, Tether and TON share the vision of an open and decentralized internet and a borderless financial system. The launch of Tether stablecoins on TON will allow seamless value transfer and increase activity and liquidity. This move expands Tether’s coverage to 15 blockchains, including Tron and Ethereum.
The launch of the Tether stablecoins on the TON blockchain is significant for both Tether and TON. TON recently surpassed Dogecoin to become the ninth-largest blockchain and cryptocurrency by market value. Tether believes that the integration with Telegram, which has an estimated 900 million global users, will provide a simple and borderless experience for peer-to-peer payments. The TON ecosystem enables transfers between fiat and crypto, and aims to surpass traditional finance in terms of efficiency and ease of use. This will allow a mass audience to use crypto infrastructure for global payments.
This is not the first time Tether and TON have intersected. Since 2023, Tether has been one of the default cryptocurrencies available on Wallet, a third-party custodial wallet for Telegram users. The Tron network is currently the default blockchain for USDT on Wallet, but with the launch of TON-based USDT, users will have another option. The Tron blockchain currently has the largest share of issued USDT, according to Tether’s transparency data.
This announcement follows the recent launch of a recovery tool by Tether, which allows users to migrate USDT between different blockchains. Tether’s USDT stablecoin also reached an all-time high market cap of $100 billion in March. The integration of Tether stablecoins on the TON blockchain further solidifies Tether’s position in the cryptocurrency market and its commitment to expanding across various blockchains.
Tether’s partnership with Telegram’s Web3 ecosystem is a match made in heaven. The integration with TON will bridge the gap between traditional finance and crypto for a mass audience. Bravo, Tether and Telegram!
TON becoming the ninth-largest blockchain is a remarkable achievement. The launch of Tether stablecoins on TON will elevate both platforms and pave the way for a more efficient and user-friendly financial system. Exciting times ahead!
Tether’s integration with Telegram may make it easier for peer-to-peer payments, but what about user privacy and security? Are they taking those concerns seriously?
Tether’s commitment to expanding across various blockchains shows its determination to provide users with more options and flexibility. The launch of stablecoins on the TON blockchain is a testament to that dedication. Well done, Tether!