The TON foundation has announced the launch of the largest stablecoin in the world on the first blockchain integrated with Telegram. With the introduction of USDt on The Open Network, the foundation aims to provide the 900 million monthly active users of Telegram with an entirely new Web3 experience centered around global peer-to-peer payments.
This collaboration represents a significant stride towards making digital currencies practical and accessible to the global population. By enabling peer-to-peer payments without intermediaries, borders, or limits, this initiative seeks to streamline financial transactions on an unprecedented scale.
Paolo Ardoino, CEO at Tether, expressed excitement about the partnership and said:
The launch of USDt on TON will allow seamless value transfer globally in a simple experience that can match even the traditional financial system. This furthers our mission of powering open financial infrastructure across the blockchain space. However, it’s important to note that USDt on TON will not be available to users based in mainland US, US territories, or US citizens and Prohibited Countries as defined under Tether’s Terms of Service.
USDt, also known as Tether, stands as the most utilized and renowned stablecoin in the market, boasting a daily volume exceeding $85 billion and a total market cap surpassing $106 billion. With each token pegged 1-to-1 with USD and backed fully by Tether’s reserves, USDt offers stability crucial for various financial activities, including hedging against cryptocurrency price volatility, everyday transactions, and cross-border payments.
Benefits For the Community: TON’s USDt Integration
The integration of USDt into the Telegram ecosystem represents a pivotal moment in digital finance, offering unparalleled advantages to users. With seamless Telegram integration, lower transaction fees, faster processing times, and scalability, USDt on TON promises to deliver a user-friendly experience unmatched by other blockchain solutions.
Moreover, the launch comes with significant incentives for early adopters, including Toncoin rewards for USDt Earn programs, liquidity pool boosts on TON’s largest decentralized exchanges, and free withdrawals across major centralized exchange partners.
However, the introduction marks an important step forward in digital finance development that provides a unique chance to close the gap between traditional financial systems and decentralized ones while giving users incomparable accessibility and utility in cryptocurrencies.
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