Tether Stablecoin Expands To TON Network, Continues Growth

Source: The Economic Times

The Tether stablecoin leads the pack of stablecoins as the most popular and used. Now, USDT is expanding its integration to the TON (Telegram) Network. This latest integration could boost Tether further.

The stablecoins market cap grew from $122 billion in October 2023 to $157 billion in April 2024. USDT leads the charge with a market cap of over $100B. Furthermore, Tether’s Q1 2024 attestation report disclosed a record $4.52 billion profit from U.S. Treasury holdings, generating $1 billion in net operating profits.

Tether’s integration on the TON network, combined with its significant market share and the potential for a more distributed wallet system, may support USDT’s expansion among Telegram’s user base. Thus, its usage in major remittance markets will rise.

Source: What is USDT?

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Additionally, the integration of Tether on the TON network could prompt users to switch from TRON to TON, due to lower fees and faster transactions.