- Tether’s integration with TON boosts its reach across 15 blockchains.
- TON’s new fiat-to-crypto mechanism simplifies global transactions.
- Collaboration targets seamless payments for 900M+ Telegram users.
Tether co-launches USDT and XAUT with The Open Network (TON) blockchain. Revealed at the recent Token2049 event in Dubai, this development marks a deeper bond between Tether and the rising Web3 ecosystem led by Telegram.
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Seamless Transactions and Expanding Networks
Tether’s move to include those stablecoins on TON is geared at simplifying transaction processes and boosting liquidity within the system. In addition, in their keynote speeches, Tether CEO Paolo Ardoino and Telegram founder Pavel Durov emphasized their common belief in an open, decentralized internet and a borderless financial system.
Moreover, this collaboration could enhance the payment experiences for Telegram’s user base, which numbers over 900 million globally. The integration allows for straightforward peer-to-peer payment capabilities, combining the stability of fiat with the efficiency of blockchain technology.
Significantly, the TON blockchain now supports a built-in mechanism for converting fiat to cryptocurrency, and plans are underway to expand these services to include global off-ramps to bank cards and accounts soon. This development marks a stride toward making cryptocurrency transactions as accessible and practical as traditional banking for a mass audience.
Tether’s USDT is now available on 15 different blockchains, and its recent addition to TON enhances the stablecoin’s utility and reach within the cryptocurrency market. This strategic growth emphasizes Tether’s dedication to extending its impact and application to several digital frameworks.
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