Mercuryo Integrates with TON, Bringing Fiat-to-USDT Access to Global Users

Mercuryo, a global payments provider, has partnered with TON to introduce fiat-to-crypto conversion services for USDT, starting with the integration of Tonkeeper, a self-custody wallet. This initiative aligns with Mercuryo's goal of simplifying fiat on-ramping for Tether tokens (USDT) within the TON ecosystem, streamlining transactions and expanding the network's functionalities.

Mercuryo Integrates with TON to Enable Fiat-to-Crypto Conversion for USDT

London, April 20, 2024 - Mercuryo, a leading global payments company, has announced a strategic partnership with TON, a blockchain ecosystem, to introduce fiat-to-crypto conversion services for USDT, the world's largest stablecoin by market capitalization. This integration marks a significant milestone in the development of the TON ecosystem and opens up new possibilities for users to seamlessly bridge the gap between traditional finance and the world of cryptocurrencies.

Facilitating Fiat On-Ramp for USDT

The initiative commenced with the integration of Tonkeeper, a self-custody wallet that supports transactions on The Open Network (TON), TON's Layer 1 blockchain, and other digital currencies. This integration enables users to seamlessly convert fiat currencies into USDT, providing a convenient on-ramp for non-crypto users to access the TON ecosystem.

"We are thrilled to introduce on-ramp services for USDT within the TON ecosystem," said Aviessa Khoo, Executive Director at Mercuryo, Singapore. "These services are designed to streamline transactions across the network, making it easier for users to acquire USDT and participate in the growing TON ecosystem."

Expanding Accessibility with Telegram Wallet Integration

The integration extends to Wallet, a Telegram crypto wallet with over 900 million users worldwide. This integration allows users to instantly and fee-freely transfer USDT among Telegram contacts globally. The seamless integration with Telegram's vast user base significantly expands the accessibility of USDT on TON and the potential for mass adoption.

"USDT support in TON is making possible a mass-market economy on a decentralized network for the first time in history," remarked Oleg Andreev, CEO of Ton Apps Group. "This integration empowers individuals with the ability to seamlessly convert fiat currencies into crypto and engage in a wide range of decentralized applications and services built on TON."

Future Developments and Incentives

Mercuryo plans to further enhance its services by introducing off-ramp services later this spring, allowing users to convert cryptocurrency back to fiat. This feature will be available for Tonkeeper and other leading wallets in the TON ecosystem, further expanding its functionality and utility.

To promote the adoption and usage of USDT on TON, the TON Foundation has launched an incentive program, allocating 11 million Toncoin to users who convert fiat currencies into USDT on the network. This program aims to incentivize usage and drive liquidity within the TON ecosystem.

At the Token2049 conference, Telegram founder Pavel Durov unveiled a series of new features for TON, including payments for ads and tipping in TON, the sale of NFT stickers, and crypto-based account functionalities. These developments further underscore the ecosystem's commitment to innovation and the provision of user-friendly and accessible blockchain services.

Conclusion

The partnership between Mercuryo and TON represents a significant step forward for the TON ecosystem and the broader cryptocurrency industry. By enabling seamless fiat-to-crypto conversion and integration with Telegram Wallet, Mercuryo is paving the way for mass adoption of USDT on TON. The addition of off-ramp services, the incentive program, and the ongoing developments within the TON ecosystem further cement its position as a leading blockchain platform for a wide range of applications and services.