Ramp Network, a financial technology firm creating payment rails that link cryptocurrencies to the international financial system, announced that it has made it possible to buy and sell USDt on Tether’s TON stablecoin.
The network boosts Tether’s use case with native USDt on TON by facilitating a seamless, borderless experience for P2P payments in the Telegram Messenger ecosystem, which has over 900 million users worldwide. Launching on the TON network, which is closely linked with the Telegram Wallet, will allow for the continued expansion of Telegram’s Apps and decentralized services on TON. USDt, with a market cap of over 107 billion dollars, is already the most widely-utilized stablecoin in the world and is supported by dozens of leading blockchains.
The whole TON ecosystem will benefit from Ramp’s (a top supplier of finance infrastructure in the crypto sector) decision to provide support for USDt on TON, which will make in-and-out transactions much easier. Fast and simple cryptocurrency purchases and withdrawals in over 150 countries are made possible with Ramp’s easy-to-use crypto on- and off-ramps, which developers can integrate into any application with ease. With its streamlined Know Your Customer (KYC) procedure, it makes onboarding new customers easier and offers crypto-to-fiat and fiat-to-crypto swaps for more than 100 digital assets.
Szymon Sypniewicz, CEO of Ramp Network stated:
“Crypto transactions should be as simple as texting. At Ramp Network we share TON Foundation’s vision. We are excited to contribute to making it a reality by introducing on-ramping and off-ramping for USDt on TON across more than 150 countries. We look forward to seeing how enabling access to instant, low-cost crypto transactions can improve the lives of hundreds of millions of users in the TON ecosystem.”
In a phased approach, Ramp will gradually deploy USDt on TON via its on-ramping on Ramp’s main website and interfaces with third-party wallets that have chosen to support TON assets. Subsequently, USDt on TON will be added to the fiat off-ramp.
Back in December 2023, when ramp allowed on-ramp for the network’s native asset Toncoin (TON), it first announced TON support.