The TON Foundation has partnered with Tether to expand global access to USDT on the TON blockchain. This ambitious initiative aims to integrate TON-based USDT into at least 100 exchanges and payment processors across both established and emerging markets in the coming months.
TON Foundation and Tether to Provide Easy Access to USDT on Ton
On Tuesday, the Open Network (TON) Foundation announced its plans to enhance the accessibility and usage of USDT, Tether’s dollar-pegged stablecoin, on the TON blockchain.
This partnership is designed to make “USDT on Ton accessible to everyone, everywhere,” according to a press release.
The foundation’s goal is to achieve 100 different integrations worldwide. Notably, some of these integrations have already been executed in markets across Africa, Southeast Asia, Europe, the Middle East, and Latin America.
As these integrations expand, more users will gain easy access to USDT on Ton, facilitating their entry into the TON ecosystem.
Purpose and Impact of Integrations
These integrations serve two primary purposes. First, they allow people in various countries and markets to access USDT on Ton quickly and effortlessly. Second, they enable the use of USDT payments for acquiring goods and services within the TON network. This dual approach aims to enhance the utility and adoption of USDT on TON.
Comments from Key Leaders
Paolo Ardoino, CEO of Tether, emphasized the importance of this initiative by stating, “Mass adoption, starting from where it matters the most.” This statement underscores the strategic focus on broadening the reach of USDT to areas where it can have the most significant impact.
Growth and Incentives
Since its launch, the TON Foundation has actively encouraged the adoption of USDT on its network, allocating millions of TON to incentivize the use and holding of USDT in Telegram’s wallet. The supply of USDT on Ton has grown rapidly, reaching a market cap of $130 million just two weeks after its launch. Currently, nearly 400 million USDT have been issued on Ton, more than tripling its supply compared to May 3.
Market Comparison
Despite this impressive growth, TON is still far from being the blockchain with the most USDT. That title belongs to Tron, which serves as the transactional network for nearly 59 billion USDT, according to Tether’s transparency page.
