Transak Paves Way for Borderless Crypto Payments with USDT

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As an experienced analyst in the cryptocurrency industry, I believe this collaboration between TON Foundation, Tether, and Transak is a game-changer. It’s not just another integration; it’s a significant step towards making cryptocurrencies more accessible to masses.

Top-tier fiat-to-crypto platform Transak made an important announcement: USDT is now compatible with The Open Network (TON) Blockchain as of April 19, 2024. This significant collaboration between the TON Foundation and Tether was unveiled at TOKEN2049 in Dubai.

Through this collaboration between TON, Telegram’s expansive user base of 900 million, and Transak, this partnership strives to provide a hassle-free and boundary-less peer-to-peer payment solution utilizing USDT. The scalability of TON enhances the accessibility of cryptocurrencies significantly, while Telegram’s large user base and Transak’s simplified Web3 onboarding facilitate a smooth experience for users.

Sami Start, Transak’s CEO and co-founder, shared his enthusiasm: “Transak has long advocated for financially responsible autonomy over digital assets, so we’re thrilled to contribute significantly by allowing millions to obtain USDT via our platform on the TON network.”

As the prevalent stablecoin, Tether’s incorporation into the TON platform could significantly expand its accessibility and capabilities. The USDT currency will be added to Telegram’s in-house digital wallet, providing an alternative to existing ramps and streamlining Web3 transactions for a vast user base. Moreover, other widely adopted wallets like Tonkeeper and Trust Wallet also support USDT on the TON network.

With Telegram Wallet, users experience seamless and cost-free USDT transactions in real time with their global contacts. This innovation brings us one step closer to realizing Satoshi Nakamoto’s original concept of a completely decentralized digital cash system.

The TON Foundation is taking steps to boost the usage of USDT by investing $72 million worth of Toncoin into different projects. Some of these initiatives involve offering rewards in the Telegram Wallet, motivating liquidity providers on Decentralized Exchanges for TON, and waiving fees for USDT withdrawals on major digital asset trading platforms.

As a cautious investor, I would like to remind you that this investment carries significant risk. You could potentially lose all of the money you put into it. The press release we received from The Crypto Times makes it clear that there is no protection in place if things go awry.

How to Purchase USDT-TON on Transak:

Navigate to Transak and Select USDT

At global.transak.com or in the Transak segment of their preferred dApp, users have the option to go. They should look for the USDT and TON network selections, followed by inputting the desired amount.

Select payment method

As a thorough analyst, I would put it this way: I observe that Transak provides multiple payment modes for users to choose from. These include options such as credit and debit cards, bank transfers, and regional alternatives. Users have the flexibility to pick the one that best fits their preferences.

Assigning Wallet Address

To receive USDT tokens in your TON blockchain wallet, simply provide the desired wallet address during the transfer process. Compatible wallet options include Telegram Wallet, Tonkeeper, and Trust Wallet.

Finish verification (if needed)

As an analyst, I would explain it this way: Based on your chosen payment method and local legal requirements, you may be asked to confirm your identity. This can be done by providing identification documents or completing a quick Know Your Customer (KYC) procedure.

Wrap up with the purchase

As a cautious crypto investor, I always double-check all the necessary details before making a purchase. With Transak handling my transaction, I can trust that they will securely process my payment and transfer the USDT directly to my designated wallet address.

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2024-05-23 13:56