Tether Expands USDT Support to TON Network

The issuer of the stablecoin USDT, Tether, has extended its support to the blockchain The Open Network (TON). This information appeared on the company’s website.

According to the information, liquidity of $10 million has been added.

Over the past day, TON has risen by 18.2%, according to CoinGecko. At the time of writing, the asset is trading above $7.1.

The coin has entered the top 10 assets by market capitalization, surpassing Dogecoin.

Earlier, it was revealed that TON developers plan to reduce transaction costs for users, allowing fees to be paid directly in Tether’s stablecoin in the new USDT contract.

In a comment to ForkLog, the project’s press service stated that all details will be announced at the Token2049 conference in Dubai. Pavel Durov will present “the first real and valuable use case for TON, which will be available to all 900 million active Telegram users.”

Tether’s head, Paolo Ardoino, will join his presentation. According to available information, the discussion will focus on integrating USDT into the TON blockchain.

Previously, TON developers presented a roadmap for 2024. It includes the implementation of gas-free transactions, the update of Wallet 5.0, and the development of a new cross-chain technology called Teleport. The team also announced plans for expansion into the Asian market.