OKX started supporting USDT on the TON blockchain

OKX became the first crypto exchange to offer its users transactions from USDT to TON.

The trading platform team added deposits and withdrawals in USDT on the TON blockchain on April 19, 2024. This happened several hours after the issuer of the USDT stablecoin, Tether, launched the issuance of stablecoins on the TON blockchain, issuing the first $10 million in USDT.

According to representatives of Tether and TON, the integration will give more than 900 million Telegram users unhindered access to the most popular stablecoin on the crypto market through the wallet built into the messenger. Sending stablecoins will be possible directly by indicating a nickname in the messenger, without the need to specify a crypto address. The cost of transactions through a crypto wallet in Telegram will be $0.1.

The goal of the partnership, aimed at mass adoption of cryptocurrencies, is to “connect hundreds of millions of crypto users to Web3,” said the TON Foundation, the non-profit organization behind the development of the TON ecosystem. The TON Foundation will use $69 million to stimulate the adoption of USDT in the TON ecosystem.

OKX and TON maintain close cooperation. At the end of 2023, OKX launched the TONomania educational initiative, which involved completing quests to learn more about the TON blockchain ecosystem. In March 2024, OKX hosted a “TON Treasure Hunt,” in which participants received rewards for completing tasks related to active trading of TON on the spot and derivatives markets. OKX was also the first major crypto exchange to list TON in 2021.