At the Token2049 event in Dubai, Tether announced a strategic partnership with the TON Foundation, unveiling the launch of $60 million worth of USDT on The Open Network (TON) blockchain. This move positions TON as the 11th largest blockchain among the 16 networks supporting Tether. Additionally, the collaboration introduced Tether Gold (XAUT) stablecoin on TON, offering cross-border payments that are promoted as free, instant, and as straightforward as sending a direct message on Telegram to its 900 million users.

Despite the expansion onto TON and other blockchains, the majority of Tether’s $109.8 billion supply remains on the Tron network, with Ethereum and Solana following as the second and third largest networks for Tether distribution. This diversification comes amid efforts to address the high fees associated with transactions on the Ethereum network.

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Source: news.bitcoin.com

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