Stablecoin provider Tether (USDT) is set to introduce its dollar-pegged token on The Open Network (TON), tapping into the extensive user base of the widely-used messaging platform Telegram.

In a recent publication, Tether revealed its plans to launch both USDT and Tether Gold (XAUT), a crypto asset backed by gold, on the layer-1 protocol TON, expanding its reach to 15 different blockchains.

The integration of USDT and XAUT on TON through the Telegram platform is expected to facilitate seamless peer-to-peer payments on a global scale, leveraging Telegram’s instant messaging infrastructure.

Tether emphasized that the collaboration with Telegram’s TON blockchain has the potential to offer a straightforward, cross-border payment experience for Telegram’s massive user community, estimated at over 900 million users worldwide.

By incorporating the most widely used stablecoin, USDT, into TON, Tether anticipates a significant uptick in network activity and liquidity, streamlining access to capital for developers and users across various applications while empowering users to store and transfer USDT using their TON wallet.

The inclusion of USDT, a dominant stablecoin in the market, is poised to provide substantial backing for TON as it continues to enhance its financial and payment infrastructure.

Apart from TON, Tether is also present on prominent blockchains such as Ethereum (ETH), Polygon (MATIC), Solana (SOL), and Avalanche (AVAX).

Recently, Tether announced its expansion into four new sectors – data, finance, education, and power – as part of its strategy to establish an inclusive and resilient financial and technological ecosystem for the future.

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