0
0
The Launch of USDT on TON Blockchain by Tether and Telegram
During the Token 2049 event in Dubai, the CEOs of Tether and Telegram made a joint announcement confirming the launch of USDT on The Open Network (TON) and the Telegram wallet. This move, aimed at expanding Telegram’s presence in the crypto sphere and boosting the growth of the TON blockchain, marks a significant milestone in the journey of the world’s largest stablecoin.
Tether CEO Paolo Ardoino expressed his enthusiasm for the partnership, stating, “The launch of USDT on TON will facilitate seamless global value transfer through a user-friendly experience that rivals traditional financial systems. This aligns perfectly with our mission of driving open financial infrastructure across the blockchain industry.”
With over 900 million monthly active users, Telegram has emerged as a major player in the digital communication space. Recent efforts to integrate Toncoin, the native token of TON blockchain, into its ad buy and revenue sharing programs have laid the foundation for further collaboration between the two platforms.
According to Justin Hyun, Director of Investments at the TON Foundation, the inclusion of USDT on the TON network is expected to attract a new wave of users to the world of crypto. By offering a stable asset pegged to the US dollar, users can now engage in on-chain transactions without being exposed to the volatility associated with other crypto assets like Toncoin.
Telegram’s crypto wallet, which provides both custodial and self-custodial options, offers a seamless way for users to manage their TON-based digital assets within the messaging app itself. This integration bridges the gap between traditional messaging services and blockchain technology, making it easier for users to navigate the world of decentralized finance.
As a result of Telegram’s efforts to embrace blockchain technology, Toncoin has witnessed a significant increase in value, with notable projects like Notcoin gaining traction within the Telegram community. Notcoin, a Telegram-based game that enables players to earn in-game currency, is set to launch its much-anticipated airdrop in the coming weeks, further solidifying Telegram’s commitment to fostering innovation within the crypto space.
Image/Photo credit: source url
