#Tether expands its reach by integrating USDT and XAUT into Telegram's TON network for global payments.
A recent collaboration between Tether and Telegram's Open Network brings forth the USDT stablecoin and Tether Gold (XAUT), both gold-backed.
Keynote speakers at Dubai's Token2049 event, Tether CEO Paolo Ardoino and Telegram's Pavel Durov, unveiled this partnership.
This move introduces Tether's stablecoins to the TON blockchain, embedding them within Telegram's expanding ecosystem.
TON now ranks as the ninth largest blockchain by market value, surpassing Dogecoin. Paolo Ardoino sees this as a stride toward Tether's vision of a decentralized global financial system, promising improved transaction ease and liquidity.
Jack Booth of the TON Foundation underscores how Tether's stablecoins can revolutionize international money transfers, bridging fiat and crypto.
With over 900 million users, Telegram's integration of Tether hints at a potential shift in international payment norms.
Previously, Telegram users relied on external services to acquire USDT. However, with this initiative, USDT on TON gains an additional transaction avenue beyond Tron.
Tether's unveiling of four new business divisions—Tether Data, Tether Finance, Tether Power, and Tether Edu—alongside the stablecoin launch aims to expand its presence in digital currency, education, renewable energy, and technology sectors.
This marks another milestone in Tether's journey toward enhancing the practicality and versatility of digital currencies for everyday financial use, aspiring to blend blockchain's benefits with traditional banking.
In the lead-up to this, Tether introduced a feature enabling USDT movement across various blockchains, enhancing functionality and user flexibility.
Tether's recent innovations and strategic alliances drive forward the integration of blockchain technology into mainstream financial operations, promising a more equitable and efficient digital economy.
