TON Teams Up with Tether for Extensive USDT Adoption Initiative

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As a seasoned crypto investor with a keen interest in emerging blockchain projects, I’m thrilled to see the strategic collaboration between the TON Foundation and Tether to expand USDT accessibility on the TON blockchain. This initiative holds immense potential for the global crypto community, especially those living in regions where access to digital assets is limited or challenging.

The TON Foundation in collaboration with Tether has unveiled a novel scheme to make USDT on the TON blockchain a global reach, with approximately 100 intended partnerships with local entities around the world.

As a researcher studying the developments in digital currencies, I’ve observed an intriguing turn of events. In early April, Tether introduced its USDT stablecoin on the TON blockchain, which became accessible through the Telegram Wallet. Since then, this shift has led to a significant surge in USDT transactions occurring within the TON network. Millions of these transactions have taken place since the deployment.

Expanding USDT Accessibility

The TON blockchain announced on its Twitter account today their plans to collaborate with local payment providers in Africa, Southeast Asia, Europe, the Middle East, and Latin America to bring Tether (USDT) to a wider audience. This partnership between the TON Foundation and Tether’s Business Development teams aims to make USDT more accessible, emphasizing their dedication to making it available “to anyone, anywhere.”

The TON Foundation’s blog post provides more information about these plans. This project is spearheaded by a team composed of 13 business developers from Tether and all the business developers of the TON Foundation. Their role is to ensure effortless USDT integrations on the TON blockchain with global partners and communities.

As a crypto investor, I’ve noticed that there have been several integrations with regional payment gateways and processors in different parts of the world, such as Africa, Southeast Asia, Europe, the Middle East, and Latin America, on the TON blockchain. These integrations have made it easier for me to access and trade Toncoin and USDT. In the upcoming weeks and months, there are plans to expand these collaborations even further. The team aims to partner with fiat on-ramps, as well as global and local exchanges, to provide more options for buying and selling these cryptocurrencies.

The TON Foundation urged its members to keep abreast of integration developments, begin collaborating with partners to employ USDT and bolster the network, and disseminate this endeavor among their contacts to foster greater community engagement and understanding.

TON Blockchain’s Meteoric Rise

This year, TON has demonstrated exceptional growth, outperforming numerous well-known cryptocurrencies. Based on data from crypto analysis firm CryptoQuant, TON has experienced a gain of over 100% since the beginning of the year. Factors contributing to this rise include favorable developments within the network and a substantial increase in on-chain transactions.

The significant achievement of TON can be attributed in part to its connection with Telegram, the widely-used social media service that boasts over 900 million users. This link to Telegram has been instrumental in expanding TON’s reach and adoption.

I, as an analyst, recently reported that last month, Pantera Capital made its largest-ever investment in TON. This significant move was motivated by the network’s capability to attract millions of new crypto users through Telegram. The announcement of Pantera’s investment fueled a strong rally for the token, resulting in a 10% increase within a day.

Furthermore, the introduction of Notcoin, a gaming platform on the TON blockchain that allows users to earn tokens by playing, has led to a substantial increase in network usage. Approximately 34 million individuals are now engaged in mining Notcoin tokens, thereby contributing significantly to on-chain transactions and enhancing both the price value and overall network activity of TON.

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2024-06-06 14:54