TON and Tether partners will provide more extensive USDT adoption on the TON blockchain, making USDT more accessible.
The TON Foundation and Tether have announced a new initiative to facilitate the global accessibility of USDT on the TON blockchain. This ambitious strategy involves the development of more than 100 intended integrations with local partners on a worldwide scale.
Tether deployed its USDT on the TON blockchain within the Telegram Wallet earlier in April. Millions of USDT transactions have transpired within the TON network since that time.
Increasing the Accessibility of USDT
Today, The TON blockchain disclosed its strategy to integrate USDT with various local payment providers in Africa, Southeast Asia, Europe, the Middle East, and Latin America in a tweet posted on their official page. The tweet underscored the cooperation between the TON Foundation and Tether’s Business Development teams, emphasizing their dedication to ensuring that USDT is accessible to all individuals, anywhere.
These intentions were further elaborated upon in a blog post published by the TON Foundation. The initiative is overseen by a team of 13 Business Developers (BDs) from Tether and the complete BD team of the TON Foundation. These specialists ensure that USDT integrations on the TON blockchain are conducted seamlessly with local partners and communities worldwide.
Numerous integrations have been implemented with regional payment gateways and processors in various regions, including Africa, Southeast Asia, Europe, the Middle East, and Latin America. In the upcoming weeks and months, the new initiative aims to broaden the scope of these integrations. It intends to expand the opportunities for accessing and transacting Toncoin and USDT on the TON blockchain by collaborating with fiat on/off ramps and global and local exchanges.
The TON Foundation urged its community to remain informed about integration updates, utilize USDT with partners to fortify the network, and share the initiative within its networks to increase community support and awareness.
TON Blockchain’s Meteoric Rise
TON has performed exceptionally this year, surpassing numerous prominent cryptocurrencies. TON has experienced a more than 100% year-to-date increase, as indicated by a report by CryptoQuant, an on-chain analytics firm. This increase has been fueled by a surge in on-chain transactions and beneficial network developments.
TON’s robust performance is partially attributable to its affiliation with Telegram, a social media platform with over 900 million users. TON’s partnership with Telegram has significantly enhanced the blockchain’s visibility and utilization.
Pantera Capital made its “largest-ever investment” in TON last month, citing the network’s potential to recruit millions of crypto users from Telegram. The token’s rally was further bolstered by the news of Pantera’s investment, which resulted in a gain of over 10% within 24 hours.
Furthermore, Notcoin, a play-to-earn game on the TON blockchain, has been the source of substantial network activity since its debut. Notcoin has made a significant contribution to the on-chain activity and the increase in TON’s price and network activity by facilitating the participation of over 34 million users in token mining.
