A Tether announced, on April 19, that your stablecoin Tether USD (USDT) and Tether Gold (XAUT) are now available on The Open Network (TON). The Tether token is pegged to the US dollar (USD₮) and Tether Gold (XAU₮) is a gold-backed digital token.
In its official statement, the company highlighted that this development marks a significant expansion of Tether's presence, bringing its coverage to a total of 15 blockchains.
O blockchain TON works with Telegram, which means USD₮ and XAU₮ on TON have the potential to provide a simple, borderless experience for peer-to-peer (P2P) payments for Telegram's user base, which Telegram estimates across more than 900 million global users.
Tether Tokens (USD₮ and XAU₮) Launch on The Open Network (TON) @ton_blockchainhttps://t.co/TwYhMeHAZ5
— Tether (@Tether_to) April 19, 2024
Tether stressed that the introduction of USD₮ and XAU₮ on the TON blockchain will facilitate the seamless transfer of value between users on the TON ecosystem and other blockchain networks, enabling a fast, secure and cost-effective process. With Tether's launch of USD₮ and XAU₮ on TON, users will have access to a peer-to-peer digital dollar and digital gold experience that represents a borderless financial system, as highlighted in the statement.
“This integration is poised to increase activity and liquidity on TON, simplifying access to capital for developers and users across multiple use cases, while providing benefits to users by allowing them to hold and move USDt with their TON wallet . The addition of USD₮, the industry’s most widely used stablecoin, provides significant support to TON in its continued development of a robust financial and payments infrastructure.”
With this, the USD₮ stablecoin is now active on 15 networks, including Algorand, Avalanche, Celo, Ethereum, EOS, Liquid Network, Near, Polygon, Solana, Bitcoin Cash's Standard Ledger Protocol, Statemint, Tezos and Tron.
