- Transak integrates USDT into TON, improving cryptocurrency accessibility for over 5 million users.
- Integration supports popular wallets including Tonkeeper, Trust Wallet, and Telegram.
- TON Foundation invests 11 million Toncoins to increase USDT adoption and user incentives.
Transak, a leading fiat-to-crypto onramp company, announced the integration of the Tether (USDT) stablecoin onto the Open Network (TON) blockchain.
This listing follows a strategic collaboration between the TON Foundation and Tether, which was unveiled at the TOKEN2049 event held in Dubai on April 19, 2024.
The collaboration leverages TON’s highly scalable blockchain technology, Telegram’s massive user base of over 900 million users, and Transak’s user-friendly Web3 onboarding process to create a seamless, borderless peer-to-peer (P2P) for USDT. Provides payment experience.
To encourage widespread adoption, the TON Foundation has also committed a significant investment of 11 million Toncoins, worth approximately $72 million. These funds will be earmarked for initiatives such as rewards within Telegram wallets, incentives for liquidity providers on the TON decentralized exchange, and fee-free USDT withdrawals on major centralized exchanges.
Sami Start, Transak’s CEO and co-founder, expressed excitement about this new product, emphasizing Transak’s commitment to promoting responsible financial freedom and self-storage of digital assets. He emphasized that this collaboration plays an important role in enabling millions of people to access TON’s USDT through Transak’s platform.
Expanding Tether (USDT) accessibility and use cases
Following USDT integration on TON, Transak now offers a seamless way for its more than 5 million users to purchase USDT on TON using fiat currency.
Over 350 decentralized applications (dApps) that have integrated Transak can now offer their users an easy and direct way to purchase USDT through Transak.
All of this will significantly improve USDT’s accessibility and expand its real-world use cases.
Buy USDT from TON via Transak
To buy USDT on the TON Network via Transak, visit the appropriate section of the Transak website or your preferred dApp, then select USDT, select TON Network and enter your desired purchase amount.
After selecting a payment method (credit card, debit card, bank transfer or other local options), users will need to provide their TON wallet address, such as Telegram Wallet, Tonkeeper or Trust Wallet.
Additional authentication may be required depending on your payment method and local regulations.
Once confirmed, users can complete their purchase and Transak will securely process the transaction and transfer USDT to the designated wallet.
Specifically, access to USDT in Telegram Wallet allows you to transfer USDT instantly and for free between Telegram contacts anywhere in the world.