Tether will start issuing USDT stablecoin on the TON blockchain

The issuer has already added $10 million worth of liquidity to the network

19.04.2024 - 11:20

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Last updated on Aug 5, 2024

What’s new? Tether has added TON blockchain support for its USDT stablecoin with a capitalization of $109,4 billion. Information about this appeared on the page of the issuer’s website with data on stablecoin reserves. Thus, for USDT on TON added liquidity for $10 million.

Information on the Tether website

What else is known? USDT is the largest stablecoin on the crypto market, in terms of capitalization it is second only to bitcoin and Ethereum. The asset, pegged to the US dollar at a 1:1 ratio, is also available in TRON, Ethereum, Solana, Avalanche, Omni, Cosmos, Tezos, NEAR, EOS, Celo, Polkadot, Algorand, and Kusama blockchains.

In turn, the token native of the TON blockchain added 15% over the day, entering the top 10 cryptocurrencies by capitalization and taking ninth place with $24,7 billion. At the same time, Toncoin surpassed Dogecoin, which is the largest meme token.

Earlier, Decenter reported that the TON team intends to reduce transaction costs for users, as well as allow payment of commissions in USDT in the new contract for the Tether stablecoin.

Tether launches investment, mining, training, and digital asset management divisions

Tether Finance division will be responsible for the issuance and redemption of USDT stablecoins

Also, in April, the TON team launched a meme token promotion platform called Memelandia, where creators of projects with the best trading performance will be able to receive rewards.

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