Tether Expands Web3 Presence, Unveils Tether Gold on Telegram's TON Blockchain
In a significant move to extend its dominance in the Web3 ecosystem, Tether, the world's leading stablecoin issuer, has announced the launch of its U.S. dollar-pegged USDT and gold-pegged XAUT stablecoins on The Open Network (TON), the decentralized platform powering Telegram. This strategic expansion marks a pivotal moment in Tether's growth trajectory and underscores its commitment to providing accessible and reliable stablecoins across multiple blockchains.
Unveiled at the prestigious Token2049 event in Dubai, the announcement was accompanied by keynote speeches from Tether CEO Paolo Ardoino and Telegram founder Pavel Durov. With the addition of TON, Tether solidifies its position as the most widely accepted stablecoin, now available on 15 different blockchains, including prominent networks such as Tron and Ethereum.
By tapping into TON's vast ecosystem, Tether aims to unlock seamless cross-border value transfers, leveraging the platform's user base of over 900 million worldwide. The integration of USDT and XAUT will empower Telegram users to conduct peer-to-peer payments effortlessly, offering them a stable and trustworthy medium of exchange that closely mirrors traditional financial systems.
"The launch of USDT and XAUT on TON will facilitate seamless value transfer, foster increased activity and liquidity, while providing users with a financial experience comparable to the conventional financial system," remarked Paolo Ardoino, Tether CEO.
Tether's expansion into the TON ecosystem is not an isolated move but part of a comprehensive strategy to diversify its operations across leading blockchains. This multi-chain approach enables Tether to cater to a wider audience, cater to diverse user needs, and enhance its resilience to market fluctuations.
In a parallel development, Tether has announced a major restructuring of its business, establishing four new divisions: Tether Data, Tether Finance, Tether Power, and Tether Edu. This transformative move will sharpen Tether's focus on innovation, broaden its service offerings, and reinforce its mission to shape the future of finance.
Tether's unwavering commitment to transparency and regulation has been instrumental in its rise as the most trusted and reliable stablecoin provider. The company's embrace of multiple blockchains, coupled with its diversified business operations, sets the stage for continued growth and innovation in the rapidly evolving Web3 landscape.
As Tether solidifies its dominance in the stablecoin market, its expansion into Telegram's TON ecosystem and the introduction of its new business divisions are bold steps forward, promising a seamless and secure financial experience for users worldwide.
