Tether has officially been issued on the TON blockchain.
What Happened: This announcement was made by Tether CEO Paolo Ardoino at Token2049 in Dubai, marking a pivotal moment for both organizations involved.
Ardoino and Pavel Durov, co-founder of Telegram outlined the details and implications of the increasing integration between TON and Tether.
Revolutionizing Payments And User Empowerment
Pavel Durov highlighted the philosophical and technical synergies between Telegram and blockchain technology, stating, “We love blockchain because it allows us to give the power back to people and to enrich our ecosystem.”
This ethos is evident in Telegram’s latest move to tokenize virtually every aspect of its platform, from user names to chat functionalities.
The announcement that USDT, one of the world’s most widely utilized stablecoins, will now be issued on the TON blockchain marks a significant milestone.
“This is not just a technical integration; it represents a fusion of ideals—freedom, equality, and the democratization of financial operations on a global scale,” Durov said in Dubai.
Implications For Digital Asset Markets
The integration of USDT on TON is poised to enhance the utility of Telegram’s blockchain infrastructure, offering users seamless transactions and an alternative to traditional financial systems plagued by inefficiencies and restrictions.
Durov’s narrative was supported by Ardoino, who joined the stage to discuss the specifics of the USDT integration.
Ardoino provided insights into the technical and operational advancements that the partnership entails.
“Today, we launched the integration and performed the first issuance of USDT on TON. This enables a robust, scalable and user-friendly platform for millions to access and transact with USDT directly within Telegram,” said Ardoino.
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Strategic Moves And Future Prospects
This collaboration is part of Telegram’s broader strategy to incorporate advanced blockchain solutions that facilitate widespread user engagement and monetization opportunities for developers and content creators within the platform.
The move is expected to drastically increase the use of mini-apps and bots, potentially engaging over 700 million users monthly.
Durov also criticized the prevalent models of monetization in digital platforms, which exploit user data without fair compensation.
In contrast, Telegram offers one of the most generous revenue-sharing models, returning 50% of ad-generated revenue to channel owners and content creators.
This model not only incentivizes quality content production but also aligns with the platform’s ethos of equity and user empowerment.
Anticipated Discussions At Benzinga’s Future of Digital Assets Event
The implications of such integrations are vast and will be a hot topic at the upcoming Benzinga’s Future of Digital Assets event on Nov. 19.
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