Tether, the renowned issuer of the world’s largest stablecoin, reportedly minted $10 million worth of its USDT token on the TON blockchain, hinting at potential expansion initiatives.
According to Tether Holdings Ltd.’s transparency report, the issuance of $10 million USDT on the TON blockchain has been confirmed. Notably, Tether has yet to make an official statement regarding this development.
With this latest integration, USDT becomes accessible on 16 different blockchain networks, including prominent platforms like Solana, TRON, and Avalanche.
Following the integration, TON’s native cryptocurrency, Toncoin, experienced a notable surge of over 17%, reaching a valuation of $7.15, as reported by CoinMarketCap.
The decision to expand USDT onto the TON blockchain follows Tether’s recent announcement of strategic restructuring plans aimed at diversifying its focus beyond stablecoins.
In an announcement made on April 18, the company unveiled plans to reorganize into four distinct divisions and outlined a new vision centred on expanding its presence beyond the stablecoin sector.
