- Tether collaborates with TON and Oobit to enhance cryptocurrency utility for seamless transactions.
- Introduces USDT and XAUT on TON’s blockchain, linked with Telegram for accessible P2P transactions.
Following recent investments from Pantera Capital in TON as reported by CNF, TON has evolved into a robust decentralized Layer 1 network seamlessly integrated with the Telegram app. This integration as posted in a tweet, supports the functionality of Tether’s USDT and Tether Gold (XAUT), facilitating efficient peer-to-peer (P2P) payments for Telegram users and broadening access to decentralized services.
Tether Collaborates with @ton_blockchain and @oobit To Create Seamless Crypto-Payment Solution
Read more: https://t.co/Qaf6gTPhK9 pic.twitter.com/A9A3P6L5He
— Tether (@Tether_to) May 16, 2024
Here are the five key points from the announcement about Tether’s collaboration with the TON Foundation and Oobit:
This collaboration has already seen significant achievements. Notably, Tether has launched USDT and XAUT on TON’s blockchain, enhancing security and transaction speed within the network. Remarkably, over $200 million in USDT has been issued on TON’s blockchain, empowering users to engage in direct USDT transactions via Telegram and instantly utilize these for crypto payments through Oobit, a mobile payment application.
The partnership aims to democratize financial services by providing essential banking solutions to the unbanked and underserved populations. This strategic move not only promotes the wider adoption of cryptocurrency payments but also pioneers transformative changes in transaction methodologies worldwide. The integration with Oobit’s intuitive crypto Tap & Pay feature, along with TON’s extensive reach via Telegram, creates a comprehensive and user-friendly crypto payment ecosystem, encouraging widespread acceptance and utilization.
Market Implications and Future Prospects
Aligned with recent predictions by CNF post, the Toncoin (TON) has witnessed a bullish surge, marking a 9.83% increase over the past week, with a current value of $6.76. This uptrend reflects growing investor confidence and the potential for further increases, underscoring the positive market response to ongoing developments within the TON ecosystem.
This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.