Binance announces the opening of receiving and sending USDT based on the Toncoin (TON) blockchain.
Binance recently announced the integration of its stablecoin Tether (USDT) onto the popular Toncoin (TON) network.
Users can now start depositing and withdrawing USDT using the blockchain linked to the Telegram (TON) app.
On April 19, Paolo Ardoino, CEO of Tether, and Pavel Durov, CEO of Telegram, announced the issuance of USDT on the TON network during the TOKEN2049 conference.
Since then, the USDT offering on TON has been a huge success, with its value already exceeding $580 million.
This rapid growth has made #TON ranked sixth among blockchain networks in terms of USDT share, after Tron, Ethereum, and Solana, which occupy the top three places.
In another context, Tether and TON announced their plans to launch more than 100 integrations with global partners.
This integration aims to boost the adoption of USDT and the TON network in global markets, expanding the use of the stablecoin and blockchain infrastructure associated with Telegram.
Despite these positive developments, it is interesting that the #Toncoin project and its token TON have not yet been listed on the spot market on Binance.
So far, Toncoin is only traded in perpetual futures on the Binance platform, and TON represents the ninth largest cryptocurrency by market capitalization.