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.
On April 19, Tether CEO Paolo Ardoino and Telegram CEO Pavel Durov issued a joint statement at the TOKEN2049 conference, announcing the issuance of USDT on TON. Since then, USDT's offer on TON has already exceeded the equivalent of $580 million. This positions TON as the sixth largest blockchain in terms of USDT on it, when the top three are TRON, Ethereum and Solana.
card
USD₮ on @ton_blockchain is now live on @binance pic.twitter.com/tsYCxybDKx
— Tether (@Tether_to) June 21, 2024
In addition, Tether and TON announced that they are going to launch more than 100 integrations with partners around the world to boost adoption of both the popular stablecoin and the blockchain associated with Telegram.
When Toncoin listing?
Interestingly, however, Toncoin itself — the native token of the TON blockchain — still has no spot listing on Binance. At the moment, the ninth largest cryptocurrency on the world's largest crypto exchange is represented only in the form of perpetual futures.
As it stands, Binance has Toncoin on the derivatives market, allows USDT transfers on the TON network and has listed Notcoin (NOT) — one of the major sensations in the ecosystem, but is yet to list TON on the spot market. What's the catch?
card
Stay tuned for the latest updates on Toncoin's market availability and the broader implications of USDT's integration on the TON blockchain.