Tether Continues Putting TON-USDT in Every Pocket, Prepares Bitcoin Teleport

Last month, new celebrity couple Tether and The Open Network announced their “ambitious plans to put USDT-TON in every pocket.” The companies promised to complete over 100 integrations with on/off ramps and global and local exchanges over the upcoming months. Since then, Tether’s social media has been full of reports of new minor and major partnerships.

Major players have already recognized and integrated USDT on TON. The stablecoin implementation has been available on Binance, Gate.io, OKX, Bybit, and other exchanges since last month. Now, Tether is promoting the USDT-TON implementation among its X followers, bombing them with announcements of new partners worldwide (mainly in developing countries). 

Of the several exchanges and wallets that have been integrated recently, USDT on TON is now available for trade on Indonesian Tokocrypto, Binance Turkey, the mid-scale centralized exchange OrangeX, and crypto derivatives trading platform Flipster. Other integrations include the blockchain gaming ecosystem GameFI.org and the Brazilian wallet Truther. Earlier this month, we observed that Web3 shopping giant Uquid promoted USDT on TON to customers while also expressing interest in Telegram's client base.

Even though the headlines have become more subdued, the campaign has apparently been successful. One step at a time, Tether attracts small groups of users from all over the world, consolidating USDT on TON’s position from the ground up. Since the beginning of June, the circulation of USDT on TON has grown by more than 200%, and TON has entered the top five blockchains based on the volume of USDT issued. The total transactions on the network are steadily growing.

Tether’s USDT, the world’s largest stablecoin by market capitalization, went live on the Telegram-associated blockchain, The Open Network, this April. The partnership was a significant milestone for both companies: Tether could reach Telegram's huge user base, and TON, in return, got a powerful ally to increase its revenue and liquidity and potentially reach worldwide adoption.  Simultaneously, Tether discontinued stablecoin support for several other implementations. The partnership stirred up retail and institutional interest and pushed the price of the network native token up: since April, Toncoin has grown by over 50%.

Bitcoin Teleport

While USDT on TON is trending, the blockchain is already preparing another impressive integration. What implementation can be more important for the network growth than the largest stablecoin? Only the largest coin, BTC.

The TON Foundation recently introduced a new concept, TON Teleport BTC. The project is expected to bridge Bitcoin to the network, giving its holders “the trustlessness and security of Bitcoin along with the speed and scalability of The Open Network.”

Each individual will be assigned a unique Bitcoin address. After the transaction of BTC to the address is confirmed, an equivalent amount of BTC will be issued to the user's address on the TON blockchain. Thus, the whole process will operate without a centralized issuer or other intermediaries.

The Teleport architecture might also be used to create links between TON and other networks, expanding its reach even further and making a “blockchain of blockchains.”