Tether Expands Its Stablecoin Offering to the TON Blockchain

Tether has strategically expanded its stability coin offering for The Open Network (TON), a blockchain platform originally developed by Telegram.

This merger introduces Tether's USDT and XAUT, a gold-backed stablecoin with a market cap of $108 billion, to the TONE ecosystem.

Tether's transparency page shows Tether's network

The development has not yet been officially announced. However, Tether's transparency page shows that it has a total authorized capital of $10 million on the Tether blockchain.

Ton Telegram operates as an independent layer-1 blockchain following its exit due to regulatory pressures. Despite this, Ton has shown remarkable growth. TonStat data shows that monthly active addresses from under 100,000 have grown to over 1.7 million in six months.

Read more: 9 Best Crypto Wallets to Store Tether (USDT)

The choice to host Tether's stablecoins on tons coincides with Telegram's recent operational shifts. Notably, Telegram replaced the euro for ad payments and adopted Toncoin, a cryptocurrency.

“Anyone can now promote their bot or channel. When you create a Telegram ad, you choose exactly which channels you want it to appear on, so you have complete control over your context,” Telegram explained.

Stablecoins such as USDT and XAUT perform critical market roles by reducing the usual volatility associated with digital currencies. By anchoring stable assets like the US dollar and gold, these coins act as a “safe harbor” between market fluctuations. Therefore, they are an important part of the portfolio of traders and investors.