Global payments company Mercuryo has partnered with TON to introduce a fiat-to-crypto conversion service for USDT.
The plan began with the integration of Layer 1, Tonkeeper, a self-custodial wallet that supports trading of TON (The Open Network) and other digital currencies.
Aviessa Khoo, Managing Director of Mercuryo in Singapore, expressed satisfaction with the introduction of the onramp service for Tether tokens (USDT) within the TON ecosystem. The service is designed to streamline transactions across the network by converting fiat to USDT.
The integration extends to Wallet, the Telegram cryptocurrency wallet with over 900 million users, allowing instant, fee-free transfer of USDT between Telegram contacts around the world.
“TON’s support for USDT is enabling a mass market economy on a decentralized network for the first time in history.”
Oleg Andreev, CEO of Ton Apps Group
Mercuryo also plans to introduce an off-ramp service that will allow users to convert cryptocurrency to fiat later this spring. This feature is available for wallets and other major wallets in the TON ecosystem, expanding their capabilities.
The TON Foundation has launched an incentive program allocating 11 million Toncoins to encourage the use of USDT on the network. At the Token2049 conference, Telegram founder Pavel Durov detailed new TON features, including ad payments and TON tipping, NFT sticker sales, and crypto-based account features.