TUSD stablecoin launches on the TON network

The True USD (TUSD) stablecoin team has partnered with The Open Network blockchain project. The collaboration will enable users to transfer the asset quickly and securely into the TON network via Orbit Bridge.

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?Big news for you! You are now able to bridge #TUSD to @ton_blockchain through @Orbit_Chain.

?TUSD adds one more chain to its list, thus becoming one of the most accessible #StableCoins in the space.

⬇️Check the article & have a deep-dive of your own!https://t.co/eAXy51L3cX

— TrueUSD (@tusdio) March 27, 2023

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According to the statement, TUSD is available on a range of blockchains, including Ethereum, TRON, BSC, Fantom and Polygon. The market capitalisation of the stablecoin exceeds $2 billion. As a result of the integration with Chainlink, the token uses the Proof-of-Reserves backing to confirm backing.

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Orbit Bridge, the cross-chain platform developed by the Korean company Ozys, enables the transfer of crypto assets across several networks, including Ethereum, BNB, Polygon, Klaytn, ICON and XRP.

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\”There are many public blockchains on the market, and all of them hope that their ecosystems will be filled with liquidity. TUSD aims to become a means of payment for users. The partnership will not only add liquidity to TON but also broaden the use cases for the stablecoin,\” said a representative of the token project.

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The TON network has become the next phase in the Telegram Open Network project, which was shut down in 2020 following a dispute between the operator of the messaging app and the U.S. Securities and Exchange Commission.

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Earlier in February, the TON developers presented the roadmap for 2023.