Tether Expands Dollar & Gold Stablecoins for Telegram’s TON

Tether is $108 billion The market capitalization of USDT is announced The plan is to expand the scope of the dollar-pegged stablecoin and its gold-backed counterpart XAUT. This expansion involves directly integrating both stablecoins into the Open Network (TON), an adjacent blockchain platform associated with the messaging application Telegram.

Under the leadership of Paulo Ardoino, Tether is embarking on an exciting journey to revolutionize peer-to-peer payments within Telegram’s massive user base of 900 million people.

Tether aims to facilitate seamless and borderless transactions by expanding the availability of USDT and XAUT tokens on the TON network, which was originally launched by Telegram. This move not only serves the needs of Telegram users, but also strengthens the rapidly growing TON ecosystem and provides opportunities for decentralized financial applications.

Tether’s commitment to transparency and innovation is evident, with $10 million worth of USDT already approved on the TON blockchain and $3 million already issued.

Announced during the Dubai 2049 conference, this strategic expansion heralds a new era of financial inclusion and efficiency, encouraging users to explore the potential of digital currencies within a familiar and accessible platform. invite.

Tether CEO Paolo Ardoino expressed excitement about the introduction of USDT and XAUT to the TON platform, highlighting its potential to revolutionize value transfer.

The TON ecosystem, initially led by Telegram, has seen impressive growth despite the company’s regulatory setbacks. Monthly active addresses have jumped from just 100,000 just six months ago to more than 1.7 million, showing that the community is thriving.

Also read: Tether expands beyond USDT with 4 new divisions

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