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More than 500 million USDT have already been issued on the TON network

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The issuance of USDT, the stablecoin of the Tether firm, exceeded $519 million on The Open Community (TON).

This milestone comes lower than two months after the launch of the US dollar-backed forex in TON.

On this regard, the spokespersons for this cryptocurrency community celebrated that “that is the quickest development within the historical past of Tether.” Moreover, they highlighted:

“Sending digital {dollars} to anybody, anyplace, as simply as sending a textual content message is a actuality for folks all around the world. What’s extra actual than that?”

The Open Community Communications Group.

As CriptoNoticias already reported, the launch of USDT in TON It was a big step for the Tether firm since, on this means, it expanded its presence in a complete of 15 networks, amongst which Tron, Ethereum, Solana and Avalanche stand out.

In response to information from DefiLlama, the stablecoin has a market capitalization of $112 billion and in TON it solely represents a small fraction of 0.46% of its total provide.

In response to the Tether firm, this integration of USDT into TON was promoted to “facilitate a fluid switch of worth between customers of this ecosystem and different networks, offering a quick, safe and worthwhile course of.”

The help of the primary stablecoin to TON strengthens the imaginative and prescient of this community in its growth in the direction of a “strong and superior monetary and funds infrastructure”.

For his half, Paolo Ardoino, CEO of Tether, highlighted that the launch in TON is not going to solely facilitate the switch of worth, however can even enhance exercise and liquidity on the communityoffering customers with a monetary expertise corresponding to that of the normal system.

TON development

Up to now in June, the community has hosted greater than $600 million in deposited cash, distributed in numerous protocols and dApps with cryptocurrencies and tokens.

As CriptoNoticias already reported, this development is pushed by the efficiency of varied protocols which are a part of the TON ecosystem.

The community has a variety of greater than 500 functions, together with memecoin creation platforms, wallets, exchanges, video video games, staking platforms, DeFi protocols and non-fungible tokens (NFT).

This community is extensively utilized in Telegram because it affords the opportunity of operating video games like Notcoin and Hamster Kombat. The messaging software has 900 million customers, which has contributed to the expansion of TON's recognition.

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