Tether has announced that it is collaborating with TokenPocket to support USDT on TON, further enhancing the functionality of the stablecoin in the TON ecosystem. According to CoinGecko data, USDT currently holds the highest market share in terms of market capitalization and circulation. TokenPocket, a multi-chain decentralized wallet, has a user base of over 20 million individuals from various countries around the world. Besides TON, the TokenPocket wallet also supports other public chains including Polkadot, TRON, Solana, and all EVM-compatible chains.
Tether’s decision to support specific blockchains is driven by community input in order to ensure sustainability, safety, and usability. The stablecoin issuer takes into account factors such as customer support, network security, and regulatory compliance. Additionally, Tether considers the level of interest from the community when introducing USDT to a particular blockchain, and support is withdrawn from blockchains that show little traction or signs of recovery.
Tether CEO Paolo Ardoino highlights the company’s commitment to continuously improving the safety and global application of the USDT stablecoin. He and Tether’s head of economics, Philip Gradwell, regularly research and publish reports to provide transparency regarding the usage of USDT. Notably, Tether has ceased supporting the implementation of SLP, Omni, Kusama, Algorand, and EOS in the past.
Within the TON ecosystem, there are currently 500 million USDT tokens in circulation, marking the fastest increase in circulated USDT in TON’s history.
Tether has also been partnering with various organizations to enhance cross-border transactions and drive innovation in the crypto space. The collaboration with TokenPocket allows TON wallet creation and importation on the platform, providing users with a seamless swapping and bridging experience. Additionally, Tether previously collaborated with the mobile payment app Oobit and the TON Foundation to offer convenient and cost-effective transaction options for users.