April 19, 2024 — Tether Operations Limited (Tether), the largest digital asset company, today announced the launch of the U.S. dollar-pegged Tether token (“USD₮”) and the gold-backed digital token Tether Gold (XAU₮). ) was announced to be released. Tokens on the Open Network (TON). This development marks a significant expansion of Tether’s presence, bringing its reach to a total of 15 blockchains. TON blockchain works with Telegram. This means that USD₮ on TON and soon XAU₮ have the potential to offer a simple, borderless peer-to-peer (P2P) payment experience to Telegram’s user base, which Telegram estimates to be over 900 million users worldwide. It means something. .
TON provides a decentralized alternative to the traditional internet through blockchain technology. TON not only provides important services such as decentralized storage and payments to support decentralized applications (dApps), but also integrates with the popular Telegram messaging service. This integration provides Telegram’s broad user base with convenient access to decentralized services and improves the overall user experience. TON also offers a high-speed blockchain and its native cryptocurrency, Toncoin. Toncoin facilitates borderless access to decentralized applications across various domains such as payments, storage, and gaming.
The introduction of USD₮ and XAU₮ into TON will facilitate seamless value transfer between users on TON’s ecosystem and other blockchain networks, enabling a fast, secure and cost-effective process. When Tether launches USD₮ and XAU₮ in TON, users will have access to a peer-to-peer digital dollar and digital gold experience that represents a borderless financial system. This integration increases TON activity and liquidity, simplifies access to capital for developers and users across a variety of use cases, and allows users to hold and move USDt in their TON wallet. You will get benefits. The introduction of USD₮, the industry’s widest and most used stablecoin, provides critical support in the continued development of TON’s robust financial and payments infrastructure.
Paolo Ardoino, CEO of Tether, expressed his enthusiasm about the launch, saying: The launch of USD₮ and XAU₮ in TON will enable seamless value transfer, increase activity and liquidity, and provide users with a financial experience comparable to the traditional financial system. This further advances our mission to strengthen open financial infrastructure across the blockchain space. ”
This announcement further solidifies USD₮’s position as the most widely adopted stablecoin, pioneering the concept in the digital token space. Stablecoins currently operate on 15 networks including Algorand, Avalanche, Celo, Ethereum, EOS, Liquid Network, Near, Polygon, Solana, Bitcoin Cash’s Standard Ledger Protocol, Statement, Tezos, and Tron.
Important notes
This press release is not an offer to sell or a solicitation of an offer to buy USD₮ or XAU₮. Tether Limited and Tether International Limited will sell or redeem USD₮ only in accordance with the Terms and Conditions available (as of the date of this press release) at https://tether.to/en/legal. TG Commodities Limited will only sell or redeem XAU₮ in accordance with the Gold Token Sale and Service Terms and Conditions available (as of the date of this press release) at gold.tether.to/legal.
