Fiat-to-crypto on-ramp Transak integrates Tether (USDT) on the TON network
Transc will integrate USDT on TONS, increasing access to crypto to more than 5 million users. The integration supports popular wallets including Tonkeeper, Trust Wallet and Telegram. Ton Foundation will invest 11M Toncoin to boost USDT adoption and user incentives.
Transc, the leading fiat-to-crypto on-ramp, has announced the integration of the Tether (USDT) stablecoin on the Open Network (TON) Blockchain.
The listing follows a strategic partnership between the Ton Foundation and Tether, which was announced at the TOKEN2049 event in Dubai on April 19, 2024.
The partnership leverages Ton's highly scalable blockchain technology, Telegram's massive user base of over 900 million, and Transc's user-friendly Web3 onboarding process to provide USDT with a frictionless, borderless peer-to-peer (P2P) payment experience.
To encourage wider adoption, the Ton Foundation has made a major investment of 11 million Toncoins, valued at $72 million. These funds are earmarked for rewards in Telegram wallets, incentives for exchange providers on tons of decentralized exchanges, and initiatives from zero-fee USDT on major decentralized exchanges.
Transc CEO and Founder, Sammy Starr, expressed his excitement about this new offering, highlighting Transc's commitment to responsible financial freedom and self-control of digital assets. They emphasized the significant role this partnership will play in enabling millions upon tons of USDT access through Tranak's platform.
Expanding access and use cases for Tether (USDT).
Following the integration of USDT on Tons, Trancak now offers its over 5 million users a seamless way to buy USDT on Tons using fiat.
The more than 350 decentralized applications (dApps) that make up Transak can provide their users with an easy and straightforward way to buy USDT through Transak.
All of this greatly increases USDT's reach and broadens its practical use cases.
Buying USDT through Tranak
To buy USDT on the TON network through Tranak, you can visit Tranak's website or section in your preferred dApp, then select USDT, select the TON network, and enter the desired purchase amount.
After choosing a payment method (credit card, debit card, bank transfer, or other regional options), users must provide their Ton wallet address, such as those in Wallet on Telegram, Tonkey or Trust Pocket.
Additional verification may be required depending on the payment method and local regulations.
Once verified, users can complete the purchase, and Trancak will securely process the transaction and transfer the USDT to the specified wallet.
In particular, access to USDT in Telegram Wallet also facilitates fast and free transfers of USDT between Telegram contacts anywhere in the world.
