Tether, the creator of the popular USDT stablecoin, has initiated the integration of its U.S. dollar-backed token and its gold-backed token, XAUT, onto The Open Network (TON) blockchain.
This move is designed to improve transactions and increase liquidity on the TON platform.
TON is a blockchain that has recently enjoyed the spotlight due to Telegram’s revenue-sharing initiatives.
The deployment of Tether’s stablecoins on TON is set to boost the blockchain’s functionality, especially for decentralized applications in industries like payments and gaming.
TON’s native cryptocurrency, Toncoin, has reached a market capitalization of US$21.4 billion, placing it tenth among cryptocurrencies, according to CoinGecko data.
USDT’s circulating supply of almost 110 billion makes it the largest stablecoin in the world and the third-largest cryptocurrency.