Tether Launches $60M USDT on TON Blockchain in Major Partnership with TON Foundation

Tether expands its footprint, bringing $60 million of USDT to the TON blockchain, marking a significant milestone in the world of stablecoins.

In a groundbreaking move announced at the Token2049 event held in Dubai, Tether has unveiled its partnership with the TON Foundation. This collaboration has seen the launch of $60 million worth of USDT on The Open Network (TON) blockchain, solidifying TON's position as the 11th largest blockchain out of 16 supporting Tether.

But that's not all. The partnership also heralds the introduction of the gold-pegged stablecoin, Tether Gold (XAUT), onto the TON blockchain. This addition is set to revolutionize cross-border payments, promising transactions that are not only free and instant but also as straightforward as sending a direct message on Telegram. With a user base of over 900 million, the integration aims to streamline the process for a vast audience, making global transactions more accessible than ever before.

Despite these new developments on the TON blockchain and various other platforms, the lion's share of Tether's staggering $109.8 billion supply remains rooted in the Tron network. Ethereum and Solana trail behind as the second and third largest networks for Tether distribution, respectively. This diversification comes as part of Tether's strategy to address the escalating fees on the Ethereum network and ensure seamless operations across multiple blockchains.

With this expansion, Tether continues to redefine the landscape of stablecoins, bridging the gap between traditional finance and the ever-evolving world of blockchain technology. As the crypto market continues to grow and adapt, partnerships like these are pivotal in driving innovation and fostering greater accessibility in the digital asset space.