TON Foundation just announced that they are collaborating with Tether to ensure USDt on the TON blockchain is accessible to everyone. The initiative is aimed at USDt penetrating geographical boundaries and will be facilitated by over 100 local partner integrations.
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The Telegram-backed blockchain project, TON, has taken the crypto space by storm, establishing partnerships with crypto companies like Tether to ensure the growth and development of its ecosystem. In today’s announcement, TON Foundation unveiled its plans to penetrate several markets, easing global accessibility to USDt. Both crypto firms have committed a group of business development executives to work on the initiative.
TON and Tether business developers team up
Tether and the TON Foundation announced their partnership at the TOKEN2049 Dubai event. The collaboration led to Tether’s USDt being launched on the TON blockchain to tap into Telegram’s massive user base of over 900 million.
Today’s announcement mentioned that the two firms have set aside a specialized team of business developers to work on the mission of putting USDt on TON to every pocket. The team is reportedly comprised of 13 business developers from Tether and the entire business development team from TON.
Over 100 integrations with various local partners are planned for $USDt on #TON. Coming soon, we will find this asset is accessible to everyone, everywhere. 💎
TON Foundation and @Tether_to's Business Development teams are dedicated to this massive initiative. They've already… pic.twitter.com/QvwmiZbr0H
— TON 💎 (@ton_blockchain) June 6, 2024
The business developers will be responsible for communicating and ensuring smooth integrations of USDt on TON with partners across different continents. The partnership aims to make USDt on TON available within minutes to vendors and crypto users.
Paolo Ardoino-led Tether and Telegram are also working together with other payment services to streamline payment processes. TON Foundation and Tether aim to improve USDt payments for goods and services in multiple regions by forging partnerships with other existing payment providers.
TON Foundation continues integrations in several continents
Tether’s partnership with the TON Foundation has been one of the major highlights in crypto this year. The TON Foundation has announced successful integrations in Africa, Europe, Southeast Asia, Latin America, and the Middle East. An excerpt from the TON Foundation blog reads:
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“The integration of USDt on TON with over 100 local partners marks a significant milestone in our journey towards global adoption. With a dedicated team, strategic partnerships, and a community-centric approach, we’re setting TON to transform the Web3 landscape. Together, we can put USDt in every pocket, creating a future where blockchain technology is accessible to all.”
In their blog announcement, the foundation mentioned that they expect to integrate the TON blockchain further to capture more regions worldwide. The Telegram-backed blockchain will seek more partnerships with existing on- and off-ramps solutions.
The TON blockchain has made impressive strides this year, seeing a substantial boost in on-chain transactions. Recent data from CoinMarketCap highlights that the price of TON has jumped over 20% in the last month alone. In just under a year, Toncoin has skyrocketed by more than 300%.
Cryptopolitan reporting by Collins J. Okoth