3 months ago
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TON has registered an exceptional performance this year, outpacing many popular cryptocurrencies.
The TON Foundation and Tether have announced a new initiative aimed at making USDT on the TON blockchain accessible globally. This ambitious plan includes over 100 planned integrations with local partners worldwide.
Earlier in April, Tether deployed its USDT on the TON blockchain within the Telegram Wallet. Since then, millions of USDT transactions within the TON network have taken place.
Expanding USDT Accessibility
In a tweet shared today on their official page, the TON blockchain disclosed its strategy to integrate USDT with various local payment providers across Africa, Southeast Asia, Europe, the Middle East, and Latin America. The tweet highlighted a joint effort between the TON Foundation and Tether’s Business Development teams, stressing their commitment to making USDT accessible “to everyone, everywhere”.
A blog post from the TON Foundation further detailed these plans. The initiative is led by a dedicated team of 13 Business Developers (BDs) from Tether and the entire BD team of the TON Foundation. These professionals are tasked with facilitating seamless USDT integrations on the TON blockchain with local partners and communities worldwide.
To date, several integrations have been made with regional payment gateways and processors across various regions, such as Africa, Southeast Asia, Europe, the Middle East, and Latin America. The new initiative seeks to expand these integrations in the forthcoming weeks and months. It plans to collaborate with fiat on/off ramps, as well as global and local exchanges, to broaden the avenues for accessing and trading Toncoin and USDT on the TON blockchain.
The TON Foundation encouraged its community to stay informed on integration updates, start using USDT with partners to strengthen the network, and share the initiative within their networks to boost community support and awareness.
TON Blockchain’s Meteoric Rise
TON has registered an exceptional performance this year, outpacing many popular cryptocurrencies. According to a report by on-chain analytics firm CryptoQuant, TON has surged more than 100% year-to-date, driven by positive network developments and a surge in on-chain transactions.
TON’s strong performance is partly due to its association with Telegram, the social media platform with over 900 million users. TON’s affiliation with Telegram has played a key role in increasing the blockchain’s visibility and usage.
Last month, Pantera Capital invested an amount it referred to as its “largest ever investment” in TON, citing the network’s potential to onboard millions of crypto users from Telegram. News of Pantera’s investment strengthened the token’s rally, gaining over 10% in 24 hours.
In addition, the launch of Notcoin, a play-to-earn game on the TON blockchain, has generated significant network activity. With over 34 million users participating in token mining, Notcoin has played an important role in driving on-chain activity and boosting TON’s price and network activity.
