Join the Tether TON Party: USDT and XAUT Coming Soon
Stablecoin issuer Tether is gearing up to launch its U.S. dollar-backed USDT and gold-backed XAUT stablecoins on The Open Network (TON) blockchain. Here’s what you need to know:
USDT Launch on TON ?
- Tether CEO Paolo Ardoino announced that USDT on TON will go live on April 20.
- XAUT on TON will be introduced in the following months after the USDT launch.
- TON will be the second blockchain for XAUT, with Ethereum being the first.
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Enhanced User Experience ?
The move to TON will enable seamless value transfer, boost activity and liquidity, and provide users with a financial experience comparable to traditional systems. This endeavor aims to:
- Improve accessibility to decentralized applications.
- Enhance payment and gaming verticals.
A Ton of Attention on Tether
Tether’s expansion to TON coincides with the growing prominence of the blockchain. As Telegram reveals plans to leverage Toncoin for ad revenue sharing and rewards, TON has garnered significant attention in recent months:
- Toncoin is now the ninth largest cryptocurrency with a market cap of $24.4 billion.
- This move aligns with the impressive ecosystem of Telegram, boasting 900 million monthly active users.
USDT Supply Surge
As USDT’s circulating supply exceeds 109 billion, the total supply, including authorized but unissued tokens, has surpassed 114 billion. Meanwhile, XAUT, Tether’s smaller stablecoin, currently has a total supply of over 246,000:
- USDT’s growing supply reflects its increasing adoption and utility in the market.
- Check out The Block’s Data Dashboard for real-time insights into stablecoin supply.
Hot Take: Tether’s TON Expansion Signals Bright Future ?
With Tether’s USDT and XAUT making their way to the TON blockchain, the crypto community can anticipate:
- Enhanced liquidity and activity on TON.
- Improved financial experiences for users.
- Expanded access to decentralized applications in various sectors.
