On April 19, 2024, OKX added support for depositing and withdrawing USDT on the TON blockchain, closely following Tether’s launch of stablecoin emission on the same blockchain, where they issued $10 million worth of USDT. This integration has immense potential, granting over 900 million Telegram users seamless access to the most popular stablecoin in the crypto market. What’s more, these users can conduct transactions directly through Telegram’s built-in wallet, without the need for recipient addresses. Transactions within the crypto wallet on Telegram will be charged a minimal fee of $0.1.
The TON Foundation, the non-profit organization behind the TON ecosystem, aims to connect millions of crypto users to Web3 through this partnership. To encourage the adoption of USDT within the TON ecosystem, the foundation plans to invest $69 million.
Paolo Ardoino of Tether expressed, “This furthers our mission of providing open financial infrastructure to the blockchain industry.”
To celebrate the addition of USDT to TON on their exchange listing, OKX has launched the “Learn and Earn” campaign. Participants stand a chance to win a share of the 20,000 TON prize pool by registering, taking a quiz, and sharing their results with friends. Moreover, OKX users can currently withdraw USDT to TON without incurring any fees.
OKX holds a prominent position in TON trading volume, accounting for 25% of the total daily trading volume in TON/USDT and TON/USDC pairs. The partnership between OKX and TON has grown strong over time, as evidenced by the launch of the educational initiative TONomania on OKX in late 2023 and the subsequent “TON Treasure Hunt” in March 2024. Furthermore, OKX was the first significant crypto exchange to list TON in 2021.