Ramp Network, a fintech company that develops payment systems connecting cryptocurrencies to the global financial network, has revealed a groundbreaking feature that enables users to buy and sell USDt on Tether’s TON stablecoin. This integration enhances the utility of Tether’s native USDt on TON by providing a seamless and borderless peer-to-peer payment experience within the Telegram Messenger ecosystem, which boasts a user base of over 900 million people worldwide. By launching on the TON network, which is closely tied to the Telegram Wallet, Ramp Network supports the expansion of Telegram’s Apps and decentralized services on TON. It’s worth noting that USDt, with a market capitalization exceeding $107 billion, is already the most widely adopted stablecoin globally and is compatible with numerous leading blockchains.
The entire TON ecosystem stands to benefit significantly from Ramp Network’s decision to support USDt on TON. This move will simplify inbound and outbound transactions, making them more convenient. Ramp Network, a prominent provider of financial infrastructure in the crypto industry, facilitates fast and straightforward cryptocurrency purchases and withdrawals in over 150 countries through its user-friendly crypto on- and off-ramps. Developers can effortlessly integrate these ramps into any application. Additionally, Ramp Network’s streamlined Know Your Customer (KYC) process simplifies customer onboarding and enables crypto-to-fiat and fiat-to-crypto swaps for more than 100 digital assets.
Szymon Sypniewicz, CEO of Ramp Network, shared his thoughts on the matter, stating that Ramp will gradually roll out support for USDt on TON via its on-ramping feature on the main Ramp website and interfaces with third-party wallets that have chosen to back TON assets. Following this phased approach, USDt on TON will also be added to the fiat off-ramp.
It’s worth mentioning that Ramp Network initially announced its support for TON back in December 2023 when it allowed on-ramping for the network’s native asset, Toncoin (TON).
