USDT Joins Telegram’s TON Blockchain

In a significant development at Token 2049 in Dubai, the CEOs of Tether and Telegram have jointly announced the integration of USDT, the world’s largest stablecoin, with The Open Network (TON) and the Telegram wallet. This strategic move is designed to enhance Telegram’s cryptocurrency capabilities and propel the growth of the TON blockchain.

Paolo Ardoino, the CEO of Tether, emphasized the seamless global value transfer that the USDT integration on TON will facilitate, comparing its efficiency to that of the traditional financial system. This step aligns with Tether’s commitment to bolster open financial infrastructure across the blockchain ecosystem.

Telegram, known for its focus on privacy, has increasingly integrated blockchain technology into its operations. With over 900 million monthly active users, Telegram has already adopted Toncoin, TON’s native token, for ad buys and revenue sharing. The integration of USDT is expected to further accelerate the adoption of TON, making it more appealing for developers and users alike.

Justin Hyun, the Director of Investments at the TON Foundation, expressed optimism about the integration’s potential to attract newcomers to the cryptocurrency world. The presence of USDT on TON is seen as a catalyst for growth, encouraging the development of new applications within Telegram’s platform. Hyun highlighted the importance of USDT’s stability, noting that it offers a safe option for those wary of the usual volatility associated with cryptocurrencies like Toncoin.

Telegram’s cryptocurrency wallet, which supports both custodial and self-custodial options, was launched in September after overcoming numerous legal challenges. This wallet simplifies the management of TON-based assets within the Telegram app, enhancing user engagement and security.

The news of USDT’s integration has already had a positive impact on the value of Toncoin, which has tripled in recent months. Additionally, the buzz surrounding Notcoin, a Telegram-based game, continues to build as it prepares for a major airdrop by the end of the month. This game allows players to earn in-game currency, further integrating blockchain technology with mobile gaming.

As TON expands with the support of USDT, the blockchain network stands at a pivotal moment. The integration not only promises to enhance the utility and appeal of Telegram’s blockchain efforts but also sets the stage for broader adoption and innovation in the crypto space.