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Tether officially lands on TON, Telegram Wallet announces support for free transfers with USDT

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Tether officially lands on TON, Telegram Wallet announces support for free transfers with USDT

Tether CEO Paolo Ardoino revealed to The Block that USDT and the gold-backed stablecoin XAUT will be launched on the TON blockchain on April 20.

USDT and XAUT Expanding to TON

XAUT is set to be launched in the coming months, with TON being its second blockchain expansion after Ethereum. Ardoino stated:

The issuance of USDT and XAUT on the TON blockchain will enable seamless value transfers, increase liquidity, and provide users with an experience comparable to traditional financial systems.

He claimed that Telegram boasts an impressive ecosystem with 900 million monthly active users, while Tether has over 300 million users globally, suggesting that the ecosystems of both have the potential to empower each other.

Telegram Wallet Supports Free USDT Transfers

The Telegram Wallet project announced several updates on the 20th:

  1. Wallet users can transfer USDT to contacts for free.

  2. Free transfers of USDT to external TON wallets until the end of June.

  3. Holders of USDT can participate in Wallet Earn with TON rewards offering an annualized return of 50%.

In February of this year, Telegram announced the launch of an ad revenue sharing program, opening up ad revenue to channel owners in nearly a hundred countries and paying channel owners in TON tokens.

Toncoin has now become the ninth largest cryptocurrency by market capitalization, reaching $21.1 billion in market value.

TON Surges Nearly 40%, Telegram to Pay with TON for Ad Revenue Sharing Program Launched in March