Tether, the company behind the $108 billion market value of USDT and XAUT, the dollar-pegged and gold-backed stablecoins respectively, has revealed its intentions to extend their usage. This expansion includes linking both stablecoins directly to The Open Network (TON), a parallel blockchain system connected to Telegram’s messaging app.
At the ongoing Token2049 event, Tether CEO Paolo Ardoino and Telegram CEO Pavel Durov unveiled the upcoming release of USD₮ and XAU₮ tokens on The Open Network (TON).— Tether (@Tether_to) April 19, 2024
Under the guidance of Paulo Ardoino, Tether is setting out on an thrilling adventure to transform peer-to-peer transactions among Telegram’s massive community of 900 million users.
Tether’s decision to increase the accessibility of USDT and XAUT tokens on the TON blockchain, which was initially introduced by Telegram, enables simpler and boundary-less transactions. This action benefits Telegram users while also strengthening the growing TON network. It opens doors for various decentralized finance solutions within the TON ecosystem.
Tether has already approved $10 million in USDT for use on the TON blockchain, and $3 million of it has been released. This action demonstrates Tether’s dedication to openness and progress.
At the Dubai 2049 conference, we unveiled our strategic plan for expansion, which marks the beginning of an inclusive and efficient financial era. Users are warmly invited to discover the benefits of digital currencies through a user-friendly and relatable platform.
Paolo Ardoino, the head of Tether, showed great enthusiasm for the launch of USDT and XAUT on the TON network, highlighting its potential to drastically change the way values are moved.
The TON platform, initially driven by Telegram, has experienced significant expansion despite facing regulatory challenges. The number of monthly active addresses has soared to over 1.7 million, up from only 100,000 six months prior, reflecting a thriving user base.
Read More
Sorry. No data so far.
2024-04-19 16:52