USDt launches on TON to offer Telegram’s 900M users access to | TON Community
USDt launches on TON to offer Telegram’s 900M users access to cross-border payments
TL;DR:
Tether’s USDt is now available on TON, coming in a new experience for Tether aimed at making cross-border payments faster, cheaper, and easier for Telegram's 900M users.
TON Foundation offers 11M Toncoin in incentives, aiming to put crypto in every pocket.
Pavel Durov, CEO & Founder of Telegram, Paolo Ardoino, CEO of Tether, and Andrew Rogozov, CEO of TOP & Wallet, announced today at TOKEN2049 in Dubai that Tether, in collaboration with TON Foundation, has launched USDt on TON.
Instant, free, as easy as sending a text message.
USDt on TON simplifies global peer-to-peer payments for Telegram’s 900M monthly active users. The integration of USDt into Wallet in Telegram makes USDt transfers free and instant between all Telegram users; all you need to do is send a DM, no need for a blockchain address, and no need to download a new app.
USDt, also known as Tether, is a cryptocurrency pegged 1-to-1 with USD and backed 100% by Tether’s reserves. Unlike other more volatile digital assets, it offers a stable value. Making USDt on TON ideal for daily transactions and cross-border payments.
USDt on TON will be accompanied by fully integrated on-ramps from most fiat currencies globally at launch. Soon, integrated global off-ramps will enable users to withdraw supported fiat currencies directly to bank accounts or cards. The aim is for USDt on TON to become a faster, easier, and cheaper cross-border payment system than traditional financial services.
11M Toncoin in incentives
TON Foundation has committed 11M Toncoin to incentivize the adoption of USDt on TON.
For a limited time, while incentives last:
5M Toncoin will be used to boost rewards in USDt/TON liquidity pools across TON DEXes @ston_fi and DeDust.
5M Toncoin will be given to users depositing USDt to Wallet’s Earn campaign.
Withdrawals to TON from all supporting exchanges like OKX, Bybit, MEXC, and KuCoin will be entirely free for all users until the end of June, 2024.
Prepare the engines. These incentives will begin soon.
The launch of USDt on TON represents a step towards integrating digital currencies into everyday life, providing 900M users with a seamless and integrated financial service within TON’s Web3 ecosystem in Telegram.
For more details and a guide on how to use USDt on TON, check out this blog post.
Please note that USDt on TON is not available to users based in mainland US, US territories, or US citizens and Prohibited Countries as defined under Tether Terms of Service.
