Tether and TON Partnership Fuels Stablecoin Adoption on Telegram
- USDT on TON reaches 519.28 million, fueled by rising demand for easy transactions.
- TON’s TVL doubles in a month to $670 million; partners with Symbiosis for DeFi.
- Toncoin’s market cap hits $18.5 billion, up 419% YTD; trades at $7.47.
Tether’s USDT stablecoin has exceeded 500 million in circulation on the TON blockchain, signaling a surge in demand for dollar-pegged digital assets on the rapidly growing network.
TON announced this news on its official Telegram channel, stating:
“The demand for USDT-TON is soaring, and it’s not surprising. The ability to send digital dollars to anyone, anywhere, as easily as sending a text message, is a practical and real-world use case that sets USDT-TON apart.”
USDT-TON’s debut generated significant market hype after reaching a circulation milestone of 200 million weeks after its launch. Two months ago, the stablecoin issuer Tether launched the US Dollar-pegged stablecoin alongside a gold-backed token, XAUT, on the TON network.
The partnership was designed to allow Telegram’s 900 million users to conduct Peer-to-Peer (P2P) payments on the TON blockchain using USDT and XAUT. TON assured users that transactions…
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