Tether Mints $1B USDT, Expands to TON with Telegram, TON Up 18%

Apr 19, 2024, 11:11 AM

Tether has announced the expansion of its stablecoin offerings, including USD₮ and gold-backed XAU₮, to the TON blockchain, a move that coincides with a significant partnership with Telegram. This integration allows the stablecoins to be accessible via the Telegram wallet, facilitating instant, free cross-border payments. The expansion was accompanied by a joint announcement from Tether CEO Paolo Ardoino and Telegram CEO Pavel Durov, scheduled for April 19th at TOKEN2049. Tether minted $1 billion USDT in line with this expansion. The TON token price surged by 18% to $7.20 following the announcement, and the TON Foundation offered 11M $TON in incentives.