Tether’s USDT stablecoin is now live on the TON blockchain, marking a significant step in the integration between Tether and Telegram’s Web3 ecosystem. This move, announced during Token2049 in Dubai, aligns with Tether CEO Paolo Ardoino and Telegram founder Pavel Durov’s shared vision of a decentralized internet and financial system.
In addition to USDT, Tether Operations introduced Tether Gold (XAUT) on the TON blockchain, highlighting its commitment to providing diverse stablecoin options across various platforms. This expansion underscores Tether’s strategy to enhance liquidity and activity while catering to users seeking seamless financial experiences.
As part of its growth strategy, Tether also unveiled a restructuring initiative, introducing four new business divisions: Tether Data, Tether Finance, Tether Power, and Tether Edu. These divisions aim to further solidify Tether’s position in the evolving digital economy.
Jack Booth, marketing head of the TON Foundation, emphasized the TON ecosystem’s capability to facilitate effortless transfers between fiat and crypto, setting sights on surpassing traditional finance in efficiency and accessibility. With features like built-in fiat on-ramps and plans for global off-ramps to bank cards and accounts, TON’s integration of USDT presents a promising avenue for mass adoption of crypto for global payments.
While this marks Tether’s debut on the TON blockchain, it’s not the first collaboration between the two ecosystems. USDT has been available on Wallet, a custodial wallet for Telegram users, since at least 2023, alongside other cryptocurrencies like Bitcoin and Toncoin (TON). With the addition of TON-based USDT to Wallet, users will have more options for transacting within the Telegram ecosystem.
At present, the Tron network hosts the majority of issued USDT. However, TON-based USDT will offer users an alternative on Wallet, complementing existing TRC-20 USDT offerings. This move reflects Tether’s commitment to diversifying its blockchain coverage while catering to the evolving needs of its user base.
