Tether Gold

Gold

Tether Operations puts its <a href="https://www.cryptopolitan.com/tether-usdt-is-tether-behind-bitcoin-rallies/" rel="noopener noreferrer nofollow">Tether USDT</a> and Tether Gold (XAUT) into operation on The Open Network (TON). This is in line with the crypto registration strategy to make cross-border payments easy and convenient. “Tether,” the company behind the creation of stablecoins linked to the US dollar and gold, made this statement at the Token2049 conference in Dubai.
On this occasion, Paolo Ardoino, the CEO of Tether, and Pavel Durov, the Telegram co-founder, gave lectures. This platform is geared to make using financial services as convenient as possible, matching standards known from traditional banking systems.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/Xpngtm_xsKeeZl0qwbu6ksptTJtKYL4Sv62IVFdItA_76rur_Q4zaZLZ02VJeWWqEtqSpK7NVBy6N7FJfMWiNP1EoDxNCfBPP-YqurmSZWejPk9kupSOWmG1GRef9ODR5fV7u_o1vBFckNAQqdiIRQM" alt="">
</figure>
This integration not only increases Tether’s involvement in multiple blockchains but also speaks highly of the new TON blockchain. Just recently, TON flew above <a href="https://x.com/Papinka98/status/1780194740450758788" rel="noopener noreferrer nofollow" target="_blank">Dogecoin</a>, being ranked ninth in the list of crypto blockchains by the value on the stock market. The collaboration can foreseeably allow Telegram’s worldwide user base of 900 million to use more efficient financial tools. It suggests just how much both parties value an open, decentralized internet along with a borderless financial system.
<h2 class="wp-block-heading" id="strong-tether-expands-reach-across-multiple-blockchains-strong">Tether expands reach across multiple blockchains</h2>
Concurrent with the launch, and Tether announced a restructuring that includes the introduction of four new business divisions: Tether Data, Tether Finance, Tether Eco-Products, and Tether Education. These divisions are set to grow Tether’s services and improve internal operations in many areas of business. Paolo Ardoino stressed that these releases can support Tether’s goal of broadening digital currency use and increasing the activity and liquidity of the blockchain ecosystem.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/uSSqUwCJUUjP1qQHzAKyECL7RIzp4eCc4j3BNfTF7RgRjVhLEFX8NgJo3v7_g1Mm9Skdf3D9JFUvryNRTvt0ICTITfljxmgr4DHCAap9pnTY04TUa3ZLa2VelGIRjwoCdVNEuv_5s4WICJHVHLufAI4" alt="">
</figure>
Tether’s efforts to expand continuously consist of boarding representatives to more than 15 blockchain platforms, such as Tron and Ethereum, which are still key players in the crypto space. The release indicated the targeted effort to consolidate deeper connections within these significant ecosystems that would serve as a strong footing for future diversification and development in digital finance.
<h2 class="wp-block-heading" id="strong-elevating-a-user-experiment-with-ton-strong">Elevating a user experiment with TON</h2>
The outbreak of USDT on the TON network is not the first cooperation between Tether and Telegram Web3 ecology. Since the early 2020s, USDT has been one of the default cryptocurrencies in Wallet, a third-party custodial wallet used by Telegram users. The choice of such coins is among remarkable alternatives to Bitcoin and other popular cryptocurrencies like Toncoin (TON). Through TON, the links between fiat and crypto are created, the operation of which is expected to be quicker and easier compared to traditional banking systems.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/b0adj6A5EvPYHqVN6P--EQNxO46tRC41A7uSLHsPNFScCzpvRwkOlz0doiBlouSSqgO9pmAQv7sZniAgAnN3HzUsMBV-v8Gih_stFWrrNhzpEZ2aOpdNUboC6lrPG3hMB9Q5UWbVRsi3jkf_JVjwfE0" alt="">
</figure>
Jack Booth, the marketing head of TON Foundation, revealed that the system is just around the corner with built-in off-ramps for fiat from the layout. Bank cards and accounts got global on-ramps soon.
In particular, Telegram expects this to be a breakthrough, thus laying the foundation for millions of people who rely on Telegram messenger for different matters to experience seamless crypto infrastructure for the first time. TON, as another wallet option together with the USDT TRC-20, presently the most popular token on the Tron network as per Tether’s transparency statistics, will have USDT TON side-by-side.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/ZDehhB9yH_51_MLCOgssMT1zxCYf3uUF9WUjHSqo2PIxiVczkuLy6SSyAG8XIUK6q-n8vckd0oAEgWXDbIds5JcrRfG5DeQT_JtxaBZ5XKew4dQP1ADE2Dov4LpI0TuLxmCOzjjKv5AmXBasNJ0hnCI" alt="">
</figure>
Tether’s recent activities to promote the TON blockchain are producing waves in terms of how Telegram’s users communicate and even how they direct transactions all over the world. This, too, is in accordance with the crypto registration field movement that, ultimately, emphasizes innovation and user focus in the digital environment that is keeping on with the changes in the world.

Tether’s exciting announcement: What it means for Telegram users

Table of Contents

Cryptopolitan_News

Other articles published on Apr 19, 2024

Merlin Chain Launches MERL: A Major Leap Forward in Bitcoin Layer 2 Solutions

Telos & Ponos Unveil Ethereum L2 Partnership at TOKEN2049

Crypto Stocks COIN & MSTR Rally Amid Broader Market Recovery

Dogwifhat Price Prediction: WIF Is The Top Gainer With A 20% Pump As Traders Stock Up On This Sol...

Meta’s ‘Pay or Consent’ Model Violates EU Data Privacy Laws

Altcoins to Watch For 20x Gains in 2024: Shiba Inu (SHIB), Polygon (MATIC) and Rebel Satoshi Arca...

Join our free newsletter for daily crypto updates!