Since merging with the blockchain on April 19, Tether, the largest stablecoin issuer in the world, has quickly gained traction on The Open Network (TON), releasing $60 million worth of USDT. As a result, TON becomes the eleventh blockchain to host Tether, increasing its accessibility and providing consumers with more choices.
Tether Gold (XAUT) was introduced on TON as part of the partnership between the two, which was revealed during the Token2049 conference in Dubai. This stablecoin with a gold peg gives consumers more alternatives for diversification.
With $35 million first issued, Tether CEO Paolo Ardoino described the cooperation as having a "great start" and expressed hope about it.
Users of Telegram will be significantly impacted by this integration. All platform users can instantly and for free make cross-border payments thanks to Tether's presence on TON. Payments can be sent through the integration without requiring the download of additional apps or a blockchain address. Sending money will be as easy as sending a direct message, according to Telegram.
The Smooth Integration of Fiat Currencies With Tether and Ton
Another feature of Tether on TON is its smooth interaction with fiat money. At launch, users may anticipate simple on-ramping from the majority of world currencies, with off-ramping features to follow shortly. Users will be able to withdraw Tether straight into their bank accounts or credit cards by doing this and converting it back to fiat.
April 2024, Cryptoniteuae