Tether Launches USDT on Ton Blockchain, Giving Access to Telegram Userbase
In a recent development, stablecoin issuer Tether (USDT) is launching its dollar-pegged asset on The Open Network (TON), thereby providing access to the vast user base of the popular messaging platform Telegram. The move involves launching both USDT and Tether Gold (XAUT) on the layer-1 protocol TON, expanding Tether’s coverage to a total of 15 blockchains.
Enhanced Peer-to-Peer Payments via Telegram
- Tether highlights that Telegram’s instant messaging system can be utilized for swift peer-to-peer payments globally.
- The ability to send USDT and XAUT over TON via Telegram offers a seamless, borderless experience for peer-to-peer (P2P) payments to Telegram’s vast user base, estimated at over 900 million users worldwide.
Increased Activity and Liquidity on TON
- According to Tether, integrating the world’s most popular stablecoin into TON is set to significantly enhance activity and liquidity on the blockchain.
- This integration aims to simplify access to capital for developers and users across various use cases, allowing users to conveniently hold and transfer USDT using their TON wallet.
- USDT’s inclusion provides substantial backing for TON in its efforts to build a robust financial and payments infrastructure.
Expansion and Diversification of Tether’s Business Model
- Earlier this week, Tether also announced plans to diversify its business model by introducing four new divisions – data, finance, education, and power.
- This strategic expansion aims to establish an inclusive and future-proof financial and tech ecosystem.
Hot Take: Embracing Innovation and Integration in the Crypto Space
The move by Tether to launch USDT on the TON blockchain and leverage Telegram’s user base showcases a strategic and forward-thinking approach to enhancing accessibility and usability in the cryptocurrency ecosystem. By expanding to new platforms and embracing innovative technology, Tether is not only broadening its reach but also fostering greater adoption and utility for stablecoins. This development underscores the continuous evolution and integration of blockchain-based assets in mainstream applications, paving the way for a more connected and efficient digital economy.
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