Launch of Tether on TON blockchain shows early success
Launch of Tether on TON blockchain shows early success
Tether officially announced its collaboration with the TON Foundation on April 19 during Token 2049 in Dubai, issuing USDt 60 million on the blockchain.
This collaboration contributed to the USDt 60 million worth of Tether USDt issued on TON since the beginning of the support.
At the same time, the company confirmed that it has launched a gold-pegged Tether Gold (XAUT) stablecoin on TON, Cointelegraph reported.
Open Network representatives emphasized that cross-border payments will be fast, free, and easy to implement.
On April 21, Tether CEO Paolo Ardoino said on his channel X that the company had issued USDt worth $35 million on TON.
Loading...
However, as of 23:30 UTC on April 21, the amount of USDt issued in TON had increased to $60 million, according to Tether Transparency.
Thanks to the partnership, Telegram users can send instant transfers between all clients on the platform.
"All you need to do is send a private message; no blockchain address is required, and no new app to download," the company said in a statement.
At launch, USDt on TON will be supported by integrated inputs for many fiat currencies around the world. The company said that in the near future, integrated global terminals will allow users to withdraw supported fiat currencies directly to bank accounts or cards.
The TON Foundation is also providing $11 million in incentives to encourage adoption.
"The launch of USDt on TON is a step towards the integration of digital currencies into everyday life, providing 900 million users with a seamless and integrated financial service in the TON Web3 ecosystem on Telegram," the company said.
Related: Halving has come – What changes await crypto investors
