According to sources, Tether, the leading stablecoin provider, announced on Friday that it has extended its support for USDT on the TON network. This was confirmed by both the CEOs of Tether and Telegram during the TOKEN2049 event. In simpler terms, USDT, a popular stablecoin, can now be used on the TON blockchain, as supported by Tether and Telegram’s official announcement.
Tether Issues USDT on TON Network
On Tether’s official website, you can find USDT, as well as EURT, CHNT, XAUT, and MXNT, displayed on the transparency page of the TON blockchain. According to Tether CEO Paolo Ardoino, USDT is set to be listed on the TON network beginning April 20.
Approximately $10 million worth of USDT stablecoins have been given permission to exist on the TON network. Out of this total, $3 million have yet to be released. The current data indicates that $6.99 million worth are currently unissued.
TON today again posted about the announcement, saying “crypto’s first read world, really valuable use case.” Telegram CEO Pavel Durov and Tether CEO Paolo Ardoino to officially announce the breakthrough and further details on the partnership and collaboration with other projects.
Are you ready for crypto’s first real-world, really valuable use case?
Only 1 hour left until @durov’s presentation…
Set your reminders for the livestream now
— TON (@ton_blockchain) April 19, 2024
TON Teases Big Announcement
April 18 saw TON making cryptic remarks about an upcoming significant revelation in collaboration with Tether, stirring up anticipation and buzz in the world of digital currencies.
TON displayed an illustration containing emblems of notable initiatives such as Tether, STON.fi’s automated market maker protocol, Tonstakers’ staking platform, and Fanzee Labs’ sports and entertainment gaming project. This has led to speculation about possible partnerships with these projects in the near future, potentially boosting TON‘s visibility.
In the past 24 hours, Toncoin‘s price has surged by more than 15%, fueled by excitement amongst crypto enthusiasts ahead of major announcements from industry leaders. The price range over this period was between $6.04 (low) and $7.18 (high). Notably, the trading volume has experienced a significant increase of over 90%, signaling heightened activity among investors.
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2024-04-19 15:04