Breaking: Tether Expands USDT Support On TON Blockchain, Toncoin Price Soars 15%

Tether, the largest stablecoin company, on Friday expanded support for USDT stablecoin on the TON network, as per sources familiar with the matter. Moreover, Telegram CEO and Tether CEO made an official announcement of the issue of USDT on The Open Network (TON) blockchain during the TOKEN2049.

Notably, USDT on TON is not available to users based in mainland US, US territories, or US citizens and prohibited countries as defined under Tether’s terms of service.

Tether Issues USDT on TON Network

Tether’s official website shows USDT on TON blockchain. Along with USDT, EURT, CHNT, XAUT, and MXNT are also showing on the transparency page of Tether. Tether CEO Paolo Ardoino said that USDT will be listed on TON on April 20.

The total USDT stablecoins authorized on the TON network are $10 million. With initial issue of $3 million as “Authorized but not issued” data showed -$7,000,002.

TON today again posted about the announcement, saying “crypto’s first read world, really valuable use case.” Telegram CEO Pavel Durov and Tether CEO Paolo Ardoino to officially announce the breakthrough and further details on the partnership and collaboration with other projects.

Also Read: Terra Luna Classic Proposes 10X Gas Fees On Transactions, LUNC Price To $1?

TON Teases Big Announcement

On April 18, TON teases a major announcement with Tether, sparking excitement and speculation in the cryptocurrency community.

TON also showed an image that featured logos of prominent projects like Tether, AMM protocol STON.fi, staking protocol Tonstakers, and sport and entertainment gaming project Fanzee Labs. This has sparked discussions over potential collaboration with the projects in the coming days, which might help in the growing popularity of the project.

Toncoin price has jumped over 15% in the last 24 hours in anticipation of the big announcement from the crypto leaders. However, it fell as it is not for users in the United States. The 24-hour low and high are $6.04 and $7.18, respectively. The trading volume has jumped over 90% in the past 24 hours, indicating a massive interest among traders.

Also Read: Bitcoin Price Risk Falling On Options Expiry Before Bitcoin Halving?