Key Takeaways
- Tether has introduced its USDT and gold-backed XAUT stablecoins on The Open Network;
- TON is now the 15th blockchain to support Tether;
- The collaboration aims to revolutionize peer-to-peer payments, enabling Telegram users to send money instantly via direct messages, enhancing financial liquidity and user experience.
Tether has launched its USDT and gold-pegged Tether Gold (XAUT) stablecoins on The Open Network (TON), further integrating into Telegram’s Web3 ecosystem.
Tether CEO Paolo Ardoino, Telegram founder and CEO Pavel Durov, and TON CEO Andrew Rogozov announced this collaboration at the Token2049 crypto event in Dubai.
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With this launch, TON became the 15th blockchain to support Tether’s tokens.
The partnership is set to transform worldwide peer-to-peer payments, allowing Telegram’s users to instantaneously send money through direct messages.
Ardoino remarked:
The launch of USDT and XAUT on TON will allow seamless value transfer, increasing activity and liquidity while offering users a financial experience that can match those found in the traditional financial system.
In addition to this launch, Tether announced a restructuring of the company, introducing four new business divisions: Tether Data, Tether Finance, Tether Power, and Tether Edu. This reorganization aims to enhance Tether’s service offerings and operational efficiency across its expanded network.
As Tether continues to innovate, the collaboration with Telegram’s TON network will likely enhance the accessibility and usability of crypto for a global audience.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
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