Tether and Telegram: Crypto Payments for 900M Users

Tether, in partnership with the TON Foundation, has launched its USDT stablecoin on Telegram’s TON blockchain, enabling Telegram’s 900 million users worldwide to send crypto payments using the stablecoin. This integration marks a significant milestone for the crypto industry, signaling a move towards mainstream adoption of cryptocurrencies. The collaboration also introduces Tether’s gold-backed XAUT stablecoin on the TON blockchain, expanding the options for crypto payments on the widely used messaging platform.

Tether, a stablecoin issuer, and Telegram, a global messaging platform boasting nearly 900 million users, decided to join forces to bring crypto payments to the masses. This collaboration was announced on April 19, 2024, and aimed to introduce the world’s most widely used stablecoin, Tether (USDT), to Telegram’s massive user base through The Open Network (TON).

The integration of USDT on TON is a strategic move to simplify cross-border payments and make them more accessible for Telegram users worldwide. With this, Telegram users can now send and receive USDT, a cryptocurrency pegged to the U.S. dollar, without the hassle of traditional financial systems. This partnership opens up a new world of possibilities for Telegram’s 900 million users, enabling them to send money across borders quickly, cheaply, and securely.

Paolo Ardoino, CEO of Tether, expressed his excitement about the collaboration, highlighting the potential to create a seamless financial system that transcends geographical boundaries. He emphasized the importance of this partnership in driving the adoption of digital currencies and making them a part of everyday life.

The TON Foundation, the organization behind The Open Network, also expressed its enthusiasm for the partnership, stating that it is another step towards making crypto a commonplace element of daily life. The foundation believes that integrating USDT on TON will not only enhance the transaction experience for Telegram users but also significantly improve the utility of the TON ecosystem.

In summary, the collaboration between Tether and Telegram marks a significant milestone in the world of digital finance. By introducing USDT on The Open Network, the two companies aim to make crypto payments more accessible and convenient for Telegram’s 900 million users. This move is set to revolutionize the way people send and receive money across borders, paving the way for a more connected and financially inclusive world.