In a landmark partnership aimed at expanding cryptocurrency adoption and enhancing the functionality of the Telegram messaging app, Tether and Telegram jointly announced the launch of USDT—the world’s largest stablecoin—on The Open Network (TON) and the Telegram wallet.
The collaboration between Tether and Telegram seeks to rapidly broaden TON’s appeal to a wider audience, including non-crypto savvy Telegram users. The integration of USDT on TON will facilitate seamless global value transfer in a user-friendly manner, bridging the gap between traditional financial systems and blockchain technology.
Paolo Ardoino, CEO of Tether, emphasized the significance of the partnership, stating, “The launch of USDT on TON will allow seamless value transfer globally in a simple experience that can match even the traditional financial system. This furthers our mission of powering open financial infrastructure across the blockchain space.”
With Telegram boasting over 900 million monthly active users, the integration of TON’s native token, Toncoin, into Telegram’s ecosystem has laid the groundwork for enhanced crypto adoption. Now, with the addition of USDT, TON is poised for accelerated growth, backed by one of the most reliable assets in the crypto space.
Justin Hyun, Director of Investments at the TON Foundation, expressed optimism about the partnership’s potential to attract non-crypto users to the blockchain space. “We really anticipate this being a catalyst for non-crypto people to come into crypto for the first time, and for Telegram mini-apps to really proliferate,” Hyun said.
The launch of USDT on TON also addresses concerns about cryptocurrency volatility, particularly for users less familiar with the crypto market. With USDT’s value pegged to the US dollar, users can complete transactions on-chain without the worry of value fluctuations.
Telegram’s crypto wallet, which offers custodial and self-custodial options, allows users to manage TON-based digital assets seamlessly within the messaging app, enhancing convenience and accessibility for crypto enthusiasts.
In recent months, Toncoin has experienced significant value appreciation, fueled by Telegram’s integrations and the success of Notcoin, a Telegram-based game. The upcoming launch of Notcoin’s airdrop is anticipated to further drive interest and engagement within the Telegram ecosystem.