TON jumps 17% as Tether mints $10m in USDT on TON blockchain

In a move that signals potential expansion, Tether is said to have minted $10 million of its largest stablecoin by market value on the TON blockchain.

Tether Holdings’ USDT, the world’s largest stablecoin, is now available on the TON blockchain to ensure the company’s transparency. report Indicates the issuance of $10 million on the network. As of this writing, Tether has not publicly disclosed this matter.

Tether Transparency Report | Source: Tether

With the latest expansion, USDT is now available on 16 networks including Solana, TRON, Avalanche, and more. Amid this news, TON’s native token Toncoin soared more than 17% to $7.15, according to data from CoinMarketCap.

The move comes shortly after Tether announced restructuring plans to expand beyond stablecoins. In an April 18 announcement, the company said it plans to reorganize into four divisions and unveiled a new vision to expand beyond its stablecoin division.

This is a developing story. Stay tuned for more information on the integration of USDT into Tether’s TON blockchain as it becomes available.

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