According to PANews, stablecoin issuer Tether has partnered with the TON Foundation to allow customers to send crypto payments using the Telegram encrypted instant messaging service. Tether CEO Paolo Ardoino said they could create the first powerful application that can be used as both a communication system and a bank account. Tether works closely with 124 law enforcement agencies in 40 different countries, abides by the sanctions rules of the Office of Foreign Assets Control, and has the ability to freeze assets when needed. Tether has worked with law enforcement and frozen $1.1 billion in funds since its founding in 2014. The company now publishes proof of assets supporting its reserves every quarter, with more than $90 billion in U.S. Treasuries backing USDT, and a stablecoin circulation supply coverage of 106%. The company made $6 billion in profits last year, of which $5 billion was used for its reserves. Steve Yun, chairman of the TON Foundation, said he hopes to bring more of Telegram's 900 million users to the TON blockchain and crypto wallets. Tether CEO said USDT will be launched on the TON network on April 20, and XAUT will be launched on the TON network in the coming months.