USDT on Toncoin (TON) Officially Goes Live on Binance: Details

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As a seasoned crypto investor with a keen interest in blockchain technology and its potential applications, I see Binance’s integration of Tether (USDT) on the Toncoin (TON) network as a significant development. The partnership between Tether and Telegram, announced at the TOKEN2049 conference earlier this year, has already resulted in USDT exceeding $580 million in value on the TON blockchain.

Binance just announced that it has now integrated Tether (USDT) on the Toncoin (TON) network. Users can start depositing and withdrawing using the Telegram-associated blockchain. 

At the TOKEN2049 conference on April 19, Tether CEO Paolo Ardoino and Telegram CEO Pavel Durov made an announcement. They revealed that USDT, the stablecoin issued by Tether, would now be available on the TON blockchain. Since then, over $580 million worth of USDT has been offered on TON. This places TON as the sixth largest blockchain in terms of USDT presence, with TRON, Ethereum, and Solana holding the top three spots.

USD₮ on @ton_blockchain is now live on @binance

— Tether (@Tether_to) June 21, 2024

Further announcement from Tether and TON: Over 100 collaborations with global partners are planned for the launch, aiming to increase the usage of Tether’s widely adopted stablecoin and the Telegram-linked blockchain.

When Toncoin listing?

It’s worth noting that although Toncoin, the native token of the TON blockchain, lacks a direct listing on Binance, it can be traded as a perpetual future contract instead. Currently, Binance’s ninth largest cryptocurrency offering is represented in this format only.

Currently, Binance offers Toncoin for trading in its derivatives section, permits USDT transfers on the TON blockchain, and includes Notcoin (NOT) in its listings. However, Binance has yet to add TON itself to its spot market. Why is that?

As a crypto investor, I’m keeping a close eye on developments regarding Toncoin’s market debut and the significance of USDT’s arrival on the TON blockchain. Stay informed with me as we await these exciting advancements.

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2024-06-21 13:33