Tether, a prominent stablecoin issuer known for USDT, has revealed plans to integrate its stablecoins onto The Open Network (TON) blockchain. CEO Paolo Ardoino announced the launch of both US dollar-pegged USDT and gold-backed Tether Gold (XAUT) stablecoins at the Token2049 crypto event in Dubai.

Ardoino highlighted the significance of this expansion, noting that bringing USDT and XAUT to TON will facilitate seamless value transfers and enhance liquidity within the ecosystem. By utilizing blockchain technology, users can expect a financial experience akin to traditional systems, with the added benefits of decentralized cryptocurrency infrastructure.

Expanding USDT and XAUT on The Open Network is expected to enhance decentralized applications across various sectors, ultimately improving the functionality and utility of the TON ecosystem. This integration will also promote usage and seamless transactions among Telegram users.

According to the announcement, USDT will debut on the blockchain on April 20th, marking a milestone in Tether's expansion strategy. While a specific launch date for XAUT was not provided, its integration represents growth as it expands beyond Ethereum to a second blockchain network.

The decision to integrate USDT and XAUT on TON not only advances Tether's position but also strengthens TON's presence in the cryptocurrency market. Toncoin, TON's native cryptocurrency, recently surpassed Dogecoin in market capitalization, cementing its status as a significant player.

Toncoin's trading volumes and price surged following the announcement, with trading volume increasing by 125% and a 30% price appreciation. This uptick reflects trader and investor confidence in the potential of the TON ecosystem with Tether's stablecoins. Toncoin has climbed to 8th in market capitalization, solidifying its position in the crypto market.

Telegram's announcement that Toncoin will be accepted as a payment method for advertisements further boosts Toncoin's popularity and market performance, contributing to increased adoption within the TON ecosystem.