Key Points
- Binance just announced the completion of Tether (USDT) integration on TON, with deposits and withdrawals open.
- TON plans to onboard 500 million users on-chain.
In an official announcement, Binance revealed that it completed the integration of Tether (USDT) on the Toncoin Network.
The exchange noted that deposits and withdrawals are now open.
The team at TON blockchain also shared the announcement via their X account and Tether shared that USDT on TON blockchain is now live on Binance.
On April 19, Tether CEO Paolo Ardoino and Telegram CEO Pavel Durov issued a joint statement at TOKEN2049 during which they were announcing the issuance of USDT on TON.
TON plans to onboard 500 million on-chain
Recently, during an interview, TON Ecosystem Lead Alena Shmalko discussed the challenges of expanding a non-EVM compatible blockchain and plans to onboard 500 million users on-chain.
Alena highlighted the growth of the TON ecosystem, saying that there has been an impressive 2,000% in TVL in recent months.
The surge has been attributed to the launch of The Open League which is an initiative aimed at TON users and builders as well. This has fostered impressive growth and engagement.
The launch of Tether’s USDT on TON which has been previously announced during TOKEN2049 will reportedly play an important role in driving mass adoption.
This allowed for various joint campaigns with centralized exchanges including OKX, Bybit, and KuCoin, and offered users various opportunities to earn rewards.
Introducing USDT to TON‘s ecosystem was a step toward establishing a more consistent and reliable financial environment, offering easier transactions and fostering trust in the platform.
Regarding the future of the project, Alena said that the main objective is to bring 500 million users on-chain by 2028. In order to achieve this, the Foundation will reportedly continue implementing The Open League.
Improving UX and onboarding processes will also be an important focus, the TON Foundation is committed to supporting devs in creating valuable and user-friendly dApps.
