TON blockchain has just expanded access to its recently launched version of the Tether (USDT) stablecoin.
The network has just announced the debut of its USDT on Alchemy Pay, a global payment solution provider. This marks an exciting moment for Telegram wallet owners, who can now make and receive payments from anywhere in the world through Alchemy Pay.
USD₮ on @ton_blockchain is now live on @AlchemyPay pic.twitter.com/zX8BCgfHS1
— Tether (@Tether_to) May 10, 2024
USDt on TON Blockchain
The move occurred less than a month after the leading stablecoin firm, Tether, disclosed support for the USDT stablecoin within the TON network.
This development marked a significant milestone for the telegram ecosystem as it allows users to exchange crypto tokens while chatting directly. This move aims to simplify access to the crypto space with social communities.
While this was TON’s “first truly significant and practical use case in cryptocurrency”, it enabled seamless and easy access to USDT for its millions of users. It offered a user-friendly approach to crypto transactions within the ecosystem, as users can now pay on-chain fees in USDT.
Nonetheless, its recent collaboration with the payment giant seeks to expand the use cases of USDt on the TON blockchain, providing users of Telegram wallets with exclusive payment options.
A Drive Towards Mainstream Appeal?
TON’s integration of the USDT stablecoin with the social media platform Telegram reflects a move to make the crypto space more exciting and approachable to social communities.
Following TON’s unrelenting efforts to improve crypto engagements among its Telegram users, the network recently reduced its transaction fees by 2.5x, allowing users to enjoy cheaper fees for their USDT transactions.
While this has triggered more adoption for the TON ecosystem, it has continued to fuel the growth of the network. Recent metrics reveal a 110% surge in TON’s wallet users. By allowing users to access financial services directly within their favourite social apps, TON continues to drive closer to reaching mainstream appeal.
