Tether and Telegram Collaborate to Introduce New Stablecoins on the TON Blockchain Economy

Launching USDT and XAUT, Tether moves into Telegram’s TON network to facilitate worldwide payments.

The USDT stablecoin and Tether Gold (XAUT), both backed by gold, are the products of a recent partnership between Tether and Telegram’s Open Network.

Tether CEO Paolo Ardoino and Telegram creator Pavel Durov were among the keynote speakers at the Dubai-based Token2049 event, where this statement was made.

This partnership introduces Tether’s stablecoins to the TON blockchain, allowing them to be part of Telegram’s growing ecosystem.

Overtaking Dogecoin, TON is now the ninth biggest blockchain by market value. According to Ardoino, this step furthers Tether’s vision of a decentralized and global financial system, which will improve the user experience via easier transactions and more liquidity.

The TON Foundation’s Jack Booth emphasized how using Tether’s stablecoins will open up new possibilities for international money transfers by bridging the gap between fiat and crypto.

This puts Tether in a position to possibly change the way cryptocurrency is used for international payments, particularly considering that Telegram has more than 900 million users.

In the past, users of Telegram could purchase USDT using Wallet, an external service. But with this new project, USDT on TON will have another way to transact besides the most popular form of USDT on the Tron network.

Tether Data, Tether Finance, Tether Power, and Tether Edu are the four new business divisions that Tether announced with the stablecoin debut. The goal of these departments is to increase Tether’s footprint in the digital currency industry’s educational, renewable energy, and technological sectors.

This next step in Tether’s growth highlights the company’s dedication to making digital currencies more practical and flexible for use in day-to-day financial transactions. Its ultimate goal is to combine the advantages of blockchain technology with those of the established banking system.

Tether released a feature a few weeks before this announcement that further increases its functionality and user flexibility by allowing users to move USDT across other blockchains.

A more equitable and efficient digital economy is within reach, thanks to Tether’s most recent innovations and strategic alliances, which push the integration of blockchain technology into mainstream financial operations forward.

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