Tether Launches USDT on TON Blockchain

During the Token2049 event in Dubai, it was announced that Tether and the TON Foundation have formed a partnership, resulting in the launch of $60 million worth of USDT on the Open Network (TON) blockchain.

This move has now placed TON as the 11th largest blockchain, out of the 16 blockchains that currently support Tether.

Additionally, this collaboration has also brought about the introduction of Tether Gold (XAUT), which is pegged to gold, on TON.

This new stablecoin is expected to enable free, instant, and simple cross-border payments, comparable to sending a message on Telegram to its 900 million users.

Despite this expansion to TON and other blockchains, the majority of Tether’s $109.8 billion supply still remains on the Tron network.