USDt Rolls Out on TON, Embracing True Peer-to-Peer Experience
The world’s largest stablecoin, USDt, is now live on The Open Network (TON), the first blockchain Integrated with Telegram. This launch introduces a groundbreaking Web3 experience for Telegram’s 900 million monthly users, enabling global peer-to-peer payments directly through the app. At the TON Foundation, we view this development as a major leap forward in making digital currencies truly beneficial for a global audience. Together with Tether, we are facilitating one of the most prevalent digital currency applications – peer-to-peer payments – as simple as sending a text message, free from intermediaries, borders, or restrictions.
Paolo Ardoino, CEO at Tether, shares our enthusiasm, stating, “We are thrilled to introduce USDt on The Open Network as it aligns with our vision for an open, decentralized internet and a boundary-less financial system. USDt’s launch on TON simplifies global transactions, offering an experience that rivals traditional financial systems and advances our mission to empower a universal financial infrastructure.”
This initiative is a part of TON’s broader mission to integrate easily accessible Web3 services into the daily digital activities of Telegram users, effectively putting crypto within everyone’s reach. TON, combined with Tether, aims to bring hundreds of millions into the Web3 fold through what may be one of the first truly practical applications of crypto with the potential for worldwide adoption. It’s important to note that USDt on TON is not available to users in mainland US, US territories, or to US citizens and residents of countries specified in Tether’s Terms of Service.
USDt, or Tether, is the most widely used stablecoin, boasting a daily volume of over $85 billion and a total market cap of $106 billion. Each USDt token is pegged 1-to-1 with the US dollar and fully backed by Tether’s reserves, providing it with a stable value crucial for daily transactions, trading, remittances, and safeguarding against the volatility of other digital currencies.
Launching USDt on TON marks a significant evolution in digital finance, combining TON’s exceptional efficiency, scalability, and security with Telegram’s vast user base to enhance USDt’s utility and accessibility. This integration is set to redefine how Telegram users access DeFi, making financial operations more intuitive and economical through reduced transaction fees, faster processing, and seamless integration with the Telegram app.
Additionally, the integration serves as a vital gateway for global crypto engagement, supporting a variety of financial operations, including instant, fee-free USDt transfers within Telegram, and paving the way for a new era of digital finance as envisioned by Bitcoin’s creator, Satoshi Nakamoto.
About TON
The Open Network (TON) is a global, decentralized blockchain community focused on putting crypto in every pocket. By building the Web3 ecosystem in Telegram Messenger, TON’s vision is to empower 500 million users to own their digital identity, data, and assets by 2028.
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