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HomeDigital AssetsTransak Now Supports USDT on The Open Network (TON)
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Transak Now Supports USDT on The Open Network (TON)

Transak Introduces USDT on TON Blockchain

Transak, a prominent fiat-to-crypto on-ramp service, has announced the addition of USDT on The Open Network (TON) Blockchain. This development is a result of a significant collaboration between TON Foundation and Tether, revealed at TOKEN2049 in Dubai on April 19, 2024.

Expanding Access to Over 5 Million Users

With this integration, USDT is now accessible to Transak’s over 5 million registered users across more than 160 countries. Any decentralized application (dApp) using Transak (over 350 dApps) can now offer users the ability to purchase USDT on TON with fiat currency, enhancing the peer-to-peer (P2P) payment experience.

Enhancing Cryptocurrency Accessibility

The addition of USDT on TON aims to improve cryptocurrency accessibility. Leveraging TON’s scalability, Telegram’s extensive user base of over 900 million, and Transak’s user-friendly Web3 onboarding, this collaboration seeks to provide a seamless, borderless P2P payment experience for USDT users.

Widening Use Cases for USDT

As the largest stablecoin by market capitalization, Tether’s integration on TON is set to broaden its accessibility and use cases. The incorporation of USDT into Telegram’s wallet, featuring on- and off-ramps, simplifies Web3 entry and exit for millions of users. Additionally, USDT on TON is compatible with other popular cryptocurrency wallets, including Tonkeeper and Trust Wallet.

Facilitating Instant, No-Fee Transfers

The availability of USDT via Telegram Wallet enables instant, fee-free transfers among Telegram contacts worldwide. This feature aligns closely with Satoshi Nakamoto’s vision of “a purely peer-to-peer electronic cash system without an intermediary.”

Transak’s Commitment to Financial Freedom

Sami Start, Transak’s CEO & Co-Founder, stated, “Transak supports responsible financial freedom and self-custody of digital assets. We are excited to help millions access USDT on TON through our platform.”

TON Foundation’s Investment in Adoption

To promote USDT adoption, the TON Foundation has committed 11 million Toncoin, valued at approximately $72 million. These funds will support initiatives such as rewards within the Telegram Wallet, liquidity provider incentives on TON Decentralized Exchanges, and zero-fee USDT withdrawals on major centralized exchanges.

Risk Warning

Investing in cryptocurrency carries a high risk. Only invest money that you can afford to lose. Learn more about the risks involved.

How to Buy USDT on TON Using Transak

  1. Visit Transak and Select USDT

   – Go to global.transak.com or access the Transak section within your preferred dApp.

   – Choose USDT and select the TON network, then enter your desired purchase amount.

  1. Select Your Payment Method

   – Transak offers various payment options, including credit card, debit card, bank transfer, and other regional methods. Choose the one that suits you best.

  1. Enter Your Wallet Address

   – Provide the address of your TON wallet to receive the USDT tokens. Supported wallets include Telegram Wallet, Tonkeeper, and Trust Wallet

  1. Complete Verification (If Required)

   – Depending on your payment method and local regulations, additional verification might be needed. This could involve submitting ID documents or completing a KYC process.

  1. Finalize Your Purchase

   – Review your details and proceed with the purchase. Transak will securely process your payment and transfer the USDT to your wallet.

Enhance your cryptocurrency transactions with Transak’s new USDT on TON integration.

 

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