Tether Launches USDT on Telegram’s TON Blockchain; Expands Global Reach
Learn more about the partnership between Tether and Telegram, as well as new announcements from Tether Inc.
Editing by Michael Mislos
- USDT and XAUT stablecoins launch on Telegram’s TON blockchain, supporting seamless transactions for its vast user base.
- At Token2049, CEO Paolo Ardoino unveils four new business divisions, broadening Tether’s operational scope.
- According to World Population Review, Telegram has been downloaded about 9.57 million times in the Philippines.
During the Token2049 event in Dubai, Tether CEO Paolo Ardoino and Telegram founder Pavel Durov announced the launch of USDT on the TON blockchain.
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USDT on TON
This addition increases the number of blockchains supporting USDT to 15, including Bitcoin (via Omni Protocol), Ethereum, Avalanche, Cosmos (through Kava), Tron, EOS, Liquid Network, Algorand, Bitcoin Cash (via Simple Ledger Protocol), Solana, Polkadot (previously Statemint), Kusama (previously Statemine), Tezos, and Near.
Alongside the U.S. dollar-pegged USDT, the gold-pegged Tether Gold (XAUT) stablecoin will also be available on TON.
“The launch of USDT and XAUT on TON will allow seamless value transfer, increasing activity and liquidity while offering users a financial experience that can match those found in the traditional financial system.”
Paolo Ardoino, CEO, Tether
Additionally, Tether unveiled plans for a restructuring into four new divisions: Tether Data, Tether Finance, Tether Power, and Tether Edu.
The integration with Telegram facilitates borderless peer-to-peer transactions via USDT and XAUT, reaching Telegram’s extensive user base of over 900 million globally.
According to World Population Review, the app has been downloaded about 9.57 million times in the Philippines.
Wallet Earn
Telegram also announced Wallet Earn, where users can soon get 50% APY on USDT balances on their Telegram wallets. The campaign, as well as more details, will be available beginning next week.
TON Background
Initially led by Telegram, the TON project is now managed by the TON Foundation. It aims for scalable cross-chain interoperability, with its native token, Toncoin, facilitating governance and supporting network functions.
How to Acquire USDT on TON
- Open Telegram and navigate to @Wallet. Follow setup instructions if new.
- Select a payment method: bank card or P2P.
- Choose USDt-TON and specify the amount.
- Confirm the purchase. USDT-TON will be instantly available.
Where else can Filipinos buy USDT?
Filipinos can obtain USDT through other wallets and local platforms such as Coins.ph, GCrypto, and Philippine Digital Asset Exchange (PDAX). USDT is also available in various wallets and exchanges accessible in the Philippines.
Read: Where to Buy USDT in the Philippines | Guide and Usecases
Recent USDT News
Tether recently partnered with Coins.ph to promote financial literacy in the Philippines, focusing on blockchain technology, bitcoin, and stablecoins. Their initiatives include workshops, online campaigns, and quizzes designed to empower Filipinos in navigating the digital asset landscape.
Last month, BitPinas analyzed Filipino Google searches for the top 10 cryptocurrencies by market capitalization from February 15 to March 15, 2024. Bitcoin was the most searched cryptocurrency, followed by USDT. Bitcoin maintained higher interest despite fluctuations, while USDT saw consistent interest, particularly in mid-March.
The analysis highlighted Bitcoin’s popularity in Caraga and Eastern Visayas and USDT’s traction in Central Luzon and Metro Manila.
This article is published on BitPinas: Tether Launches USDT on Telegram’s TON Blockchain; Expands Global Reach
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