Tether Launches USDT on TON Network, Telegram Wallet in Boon for Messaging App

On stage at Token 2049 in Dubai, Tether and Telegram CEOs said Friday that USDT, the world’s largest stablecoin, will be launched on the Open Network (TON) and Telegram Wallet to expand Telegram’s cryptocurrency. jointly announced that. TON Increase the presence of blockchain itself and accelerate its growth.

“The launch of USDT in TON enables seamless value transfer around the world with a simple experience that rivals traditional financial systems,” said Tether CEO Paolo Ardoino. “This further advances our mission to strengthen open financial infrastructure across the blockchain space.”

Telegram, a privacy-focused messaging app, currently has more than 900 million monthly active users, according to the company. In recent months, the company has adopted TON (a blockchain first developed by Telegram and then continued independently) and integrated TON’s native token, Toncoin, into Telegram’s ad buying and revenue sharing program.

Now, TON’s leadership says that by backing one of the most solid assets in cryptocurrencies, the blockchain network will be able to scale faster.

“We really hope this will be the catalyst for non-crypto people to get into crypto for the first time and for Telegram mini-apps to really take off,” said Justin Hyun, investment director at TON Foundation. Decryption. “Now that we have Tether, we’re ready to go into battle and say, ‘Come and build a TON.'”

Since the value of USDT is pegged to the US dollar, users who are less familiar with the volatility of crypto assets like Toncoin can also use it without worrying about whether the value of their funds will change over weeks or months. Hyun elaborated that transactions will be able to be completed on-chain. .

Telegram’s crypto wallet launched in September after years of legal issues, allowing app users to manage TON-based digital assets in both custody and self-custody options while still using the messaging app. Masu.

News of the token integration by Telegram and the emerging success of Notcoin, a Telegram-based game that allows players to accumulate in-game currency, has seen the value of Toncoin more than triple in recent months. Notcoin is scheduled to launch its long-awaited airdrop by the end of this month.

Edited by Stacey Elliott.

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