During the Token 2049 conference in Dubai last week, Tether CEO Paolo Ardoino announced his company’s plans to utilize the Telegram Open Network (TON) for hosting their USDT stablecoins.
The total value of this fiat-backed digital currency has grown to over $100 billion and accounts for more than 70% of stablecoin transactions in the crypto market.
Currently, USDT is issued on 15 different blockchains, including Ethereum and Tron.
The TON network is a part of the ecosystem built by the Telegram development team, led by CEO Pavel Durov. At the conference, Durov also announced their readiness to expand the capabilities of the messenger’s users.
The integration of USDT tokens with the support of the US dollar and gold on the TON network is seen as a significant step towards achieving the goals set by the messenger and stablecoin developers.
