Yahya 
Tether who is the leading stablecoin issuer, have started an innovative plan with the TON Foundation and breaks a record of the entire crypto community. The news was dropped at the Token2049 conference in Dubai, and it announced the inclusion of Tether (USDT) onto The Open Network (TON), with an astounding $60 million minted on the blockchain since April 19.
TON Emerges as 11th Largest Blockchain for Tether
From its start on April 19th, TON has proven to rapidly gain world recognition as the 11 th biggest block chain for tether from 16 in general. Tether’s partnership with TON Foundation is bound to initiate revolutionary changes in international remittances and XAU, the stablecoin of Tether Gold (XAUT), will similarly be unveiled on this network.
Instant, Free Cross-Border Payments
The Open Network team has welcomed the integration and has talked about the user friendliness of the cross border payment, which now is straightforward as text messaging to the vast user base of over 900 million on Telegram. Paolo Ardoino, the CEO of Tether, announced with enthusiasm that $35 million USDT alone was issued on TON, a positive sign for the future of the platform.
Expanding Fiat Integration
Telegram users can send transfers directly and securely, thanks to telegram wallet, without using cumbersome blockchain addresses or downloading additional apps. In addition, Tether has announced its intention to incorporate fully-fledged on-ramps for fiat currencies from all world markets at launch, whereas off-ramps are to be supported in the close future, thus offering the possibility for direct withdrawals to bank accounts or cards.
Diversification Across Blockchains
Tron, Tether’s main network, now constitutes $57.8 billion worth of Tether circulation. The Ethereum based Tether is gradually losing its preeminence towards alternative networks that aim to solve congested Ethereum network and high gas fee problems. Tether has reached the third-largest network after Solana on the blockchain with $1.9 billion issued USD, along with other established blockchains, like Avalanche, Omni, and Cosmos.
Market Dominance and Price Dynamics
It remains undisputedly at 69% of a total stablecoin market capitalization amounting to $ 159.5 billion as recorded by CoinGecko with a modest dominance relative to the generally large crypto market. Toncoin (TON) jumped 22% gain in the intraday trading after the reports, but today it is trading flat at $6.13.
Thus, Tether teaming up with the TON team marks a new dawn of technological upgrades of the crypto world and creates a safe haven that guarantees the stability of the stablecoin market with Tether playing the major role.