TON Foundation Unveils Plans to Expand USDT Access on Ton Network
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The TON Foundation has announced a cooperation with Tether to increase worldwide crypto communities’ access to USDT on the TON network.
The foundation has announced intentions to incorporate TON-based USDT into at least a hundred exchanges and payment processors in both established and emerging areas in the coming months.
The TON Foundation has partnered with Tether to provide easy access to USDT on Ton
On Tuesday, the Open Network (TON) Foundation, an organization committed to promoting activities on the TON blockchain, announced its plans to enhance the accessibility and usage of USDT, Tether’s dollar-pegged stablecoin, on Ton.
This cooperation aims to make “USDT on Ton accessible to everyone, everywhere,” according to a press statement.
The TON Foundation’s program seeks to complete 100 distinct integrations worldwide, with some already completed in specific markets.
Users across Africa, Southeast Asia, Europe, the Middle East, and Latin America are already benefiting from these linkages, and more are being considered.
The integrations serve two distinct functions. The first goal is to provide users in each of these nations and markets with easy access to USDT on Ton, allowing them to rapidly and easily join the Ton ecosystem.
Paolo Ardoino, CEO of Tether, commented on the significance of the action. “Mass adoption, starting from where it matters the most,” he said.
Since its inception, the TON Foundation has provided incentives for users to use USDT on its network, distributing millions of TON to incentivize USDT use and storage in Telegram’s wallets.
The supply of USDT per ton has skyrocketed, with a market capitalization of $130 million barely two weeks after its inception. Currently, approximately 400 million USDT have been issued per ton, more than tripling its supply since May 3.
Nonetheless, Ton is not the blockchain with the most USDT. Tron ranks #1, serving as a transactional network for about 59 billion USDT, according to Tether’s transparency page.
