Tether Expands Global Presence, Issues Millions of USDT and Tether Gold on TON

Tether and TON Foundation have partnered, issuing 60 million USDT on the TON blockchain, making it the 11th-largest blockchain for Tether. Tether Gold (XAUT) has also been launched on TON, with cross-border payments now free and instant for Telegram users. The integration with Telegram allows seamless money transfers through direct messages without external applications or blockchain addresses. Tether maintains a dominant position in the stablecoin market, with a 69% market share.

Tether Expands Global Reach with TON Partnership, Issuing Millions of USDT and Tether Gold

In a significant move that further expands its global presence, Tether has forged a partnership with the TON Foundation to issue USDT on the Telegram Open Network (TON). This strategic collaboration marks a major milestone in Tether's mission to extend its reach to a wider range of users and blockchains.

USDT on TON: A Growing Presence

Since the integration of USDT on TON commenced on April 19, Tether has issued a remarkable 60 million worth of USDT on the blockchain. This impressive figure places TON as the 11th largest blockchain for USDT among the 16 currently supporting the stablecoin.

The partnership between Tether and the TON Foundation has been gaining traction since its announcement at the Token2049 event in Dubai. The initiative highlights the efficiency of USDT on TON for cross-border payments, a key area of focus for both organizations.

Tether Gold (XAUT) on TON: Expanding the Ecosystem

Alongside the issuance of USDT, Tether has also launched Tether Gold (XAUT) on the TON blockchain. This stablecoin is backed by physical gold, providing users with a reliable and transparent way to store and trade digital gold.

The introduction of Tether Gold on TON has further enriched the TON ecosystem, offering users a diverse range of financial instruments. The seamless integration with Telegram allows users to send XAUT through direct messages, eliminating the need for blockchain addresses or additional applications.

Key Benefits for TON Users

The integration of USDT and Tether Gold on TON provides numerous advantages to users:

• Instant and free cross-border payments: Users can seamlessly send and receive funds globally without incurring additional fees or delays.
• Direct messaging transfers: Telegram users can conveniently send USDT and XAUT through direct messages, simplifying transactions.
• On-ramp and off-ramp support: TON fully supports on-ramps for most global fiat currencies, making it easy to convert fiat into USDT and XAUT. Integrated global off-ramps will soon allow users to withdraw supported fiat currencies directly to bank accounts or cards.

Tether's Dominance in the Stablecoin Market

Tether maintains an unwavering position as the leading stablecoin in the market, commanding a market share of 69% and a total market capitalization of $159.5 billion. This dominance underscores the trust and confidence placed in Tether by users worldwide.

Circle's USD Coin (USDC) is the closest competitor to Tether, with a market share of 21% and a circulating supply of 33.7 billion. However, Tether's lead remains substantial, solidifying its position as the preferred stablecoin for individuals and institutions alike.

Conclusion

The partnership between Tether and the TON Foundation represents a significant development in the stablecoin landscape. By issuing USDT and Tether Gold on TON, Tether is expanding its reach and offering users new ways to access and utilize digital currencies.

As the global demand for stablecoins continues to grow, Tether's strategic partnerships with leading blockchains position it as the driving force behind the adoption and accessibility of digital assets. With its commitment to innovation and transparency, Tether is poised to continue its dominance in the stablecoin market while shaping the future of digital finance.