Latest News: Tether is strengthening its relationship with Tele's Web3 ecosystem by launching stablecoins such as USDT on the TON network.
Tether Operations launched new stablecoins, Tether USDT, a US dollar-backed coin, and Tether Gold (XAUT), a gold-backed coin, on the TON blockchain.
The announcement accompanied a speech by Tether CEO Paolo Ardoino and Pavel Durov at the Token2049 event in Dubai. Tether also announced a restructuring and introduced four new divisions: Tether Data, Tether Finance, Tether Power and Tether Edu.
Tether is strengthening its relationship with Telegram's Web3 ecosystem by launching stablecoins like USDT on the TON network.
Tether Operations launched new stablecoins, Tether USDT, a US dollar-backed coin, and Tether Gold (XAUT), a gold-backed coin, on the TON blockchain.
The announcement accompanied a speech by Tether CEO Paolo Ardoino and Pavel Durov at the Token2049 event in Dubai. Tether also announced a restructuring and introduced four new divisions: Tether Data, Tether Finance, Tether Power and Tether Edu.
Ardoino said TON and Tether both aim for an open and decentralized internet as well as a borderless financial system. The launch of USDT and XAUT on TON aims to enhance liquidity and financial experience for users, and expand Tether to 15 blockchains, including Tron and Ethereum.
âThe TON blockchain works with Tele, meaning USDT and XAUT on TON have the potential to provide a simple, borderless experience for peer-to-peer payments to Tele's user base, which Tele estimates to be more than 900 million people for global use,â the announcement read.
The launch of USDT on the TON blockchain is not the first instance of the two ecosystems intersecting. Since at least 2023, USDT has been one of the default cryptocurrencies available on Wallet, a third-party custodial wallet for Tele users, alongside other cryptocurrencies such as Bitcoin and Toncoin .
