Tether expands its Web3 presence by integrating the USDT Stablecoin with the TON blockchain.

In a significant development in the Web3 space, Tether has teamed up with Telegram to introduce the USDT stablecoin and Tether Gold (XAUT) to The Open Network (TON). The move, announced on April 19, enhances the synergies between Tether’s financial technology and Telegram’s broader Web3 ecosystem.

At the Token2049 cryptocurrency event in Dubai, Tether CEO Paolo Ardoino gave a keynote speech highlighting collaboration with Telegram founder Pavel Durov. Along with this announcement, Tether also unveiled a strategic restructuring, including the formation of four new business divisions: Tether Data, Tether Finance, Tether Power, and Tether Edu.

Tether advances blockchain integration with TON’s launch of USDT

Ardoino said that both TON and Tether align with the vision of fostering an open, decentralized internet and a seamless, borderless financial system. “Integrating USDT and XAUT into TON will improve liquidity and activity on the network, providing a financial experience similar to existing systems but with greater efficiency,” he said.

This integration marks a pivotal expansion of Tether’s presence across various blockchains, now totaling 15, including well-known platforms such as Tron and Ethereum. The addition of Tether’s offering to Toncoin’s TON, a native token that recently surpassed Dogecoin as the ninth-largest cryptocurrency by market capitalization, marks a significant development for the network.

This partnership is particularly promising for Telegram’s user base, which is estimated at more than 900 million people worldwide. With TON’s infrastructure, TON’s USDT and XAUT are ready to simplify peer-to-peer payments and easily combine fiat and cryptocurrency transactions. Highlighting the unique aspects of the TON ecosystem, Jack Booth, Head of Marketing at the TON Foundation, said: “It is the best platform for global cryptocurrency payments.”

Tether tokens USD₮ and XAU₮ are now live on the Ton blockchain and @telegram wallet. pic.twitter.com/9KdoKT19Jc

— Tether (@Tether_to) April 19, 2024

Previously, Telegram users could access USDT through Wallet, a third-party managed wallet that supports a variety of cryptocurrencies, including Bitcoin. Currently, the Tron network serves as the primary blockchain for USDT, with wallets offering TRC-20 USDT. However, with the new integration, TON-based USDT will also be available, providing additional flexibility for users, while TRC-20 USDT will still be supported.

As Tether continues to expand, the Tron blockchain remains a significant contributor to USDT issuance. This integration with TON follows closely on the heels of Tether’s March 2024 launch of its blockchain migration tool, which makes it easy to transfer USDT across a variety of platforms. The tool was introduced as soon as USDT’s market capitalization reached an all-time high of $100 billion on March 4.

Through this strategic expansion and technology integration, Tether not only expands its presence in the blockchain landscape, but also improves the usability and accessibility of stablecoins for users around the world.

Innovation in Blockchain Games: Introduction to 5th Scape’s AR and VR Ecosystem

With a market value expected to exceed $50 billion by 2028, virtual reality (VR) gaming has yet to gain a significant foothold within the blockchain industry. 5th Scape, a new pre-sale token, aims to change this by combining Augmented Reality (AR) and VR technologies to create hyper-realistic gaming environments on the blockchain.

5th Scape stands out as the world’s first AR and VR ecosystem designed to unite innovative minds. The platform is poised to enrich the VR space with a variety of services including games, movies, and educational content enhanced through immersive virtual reality.

What sets 5th Scape apart from other VR initiatives is its integration of physical products within its ecosystem. Not only does it offer a variety of VR games for players and creative tools for developers, it also includes VR headsets and gaming chairs as part of its hardware lineup. According to the official white paper, these VR headsets feature advanced visual and ergonomic designs to ensure player comfort during long gaming sessions.

Utilizing 5SCAPE tokens, 5th Scape successfully raised over $800,000 during the pre-sale phase. The token price is currently just $0.00187, indicating strong early interest and growth potential for this innovative VR game and blockchain venture.

Visit 5th Scape

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