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Mercuryo, a global payments company, has partnered with TON to introduce fiat-to-crypto conversion services for USDT.
The initiative began with integrating Tonkeeper, a self-custody wallet that supports transactions in Layer 1, The Open Network (TON), and other digital currencies.
Aviessa Khoo, Executive Director at Mercuryo, Singapore, expressed satisfaction with the introduction of on-ramp services for Tether tokens (USDT) within the TON ecosystem. The services are designed to enable the on-ramp of fiat currency to USDT, streamlining transactions across the network.
The integration extends to Wallet, a Telegram crypto wallet with over 900 million users, allowing instant, fee-free transfers of USDT among Telegram contacts globally.
We're proud to announce that @mercuryo now supports #USDt on @ton_blockchain.
— Mercuryo (@Mercuryo_io) April 19, 2024
The launch has just been official at @token2049 by @paoloardoino and @durov, spearheading the adoption of USDt on #TON, a leading L1 blockchain.
Users can now purchase #USDT through @tonkeeper. pic.twitter.com/1aODaMrqLF
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“USDT support in TON is making possible a mass-market economy on a decentralized network for the first time in history.”
Oleg Andreev, CEO of Ton Apps Group
Mercuryo also plans to introduce off-ramp services later this spring, allowing users to convert cryptocurrency to fiat. The feature will be available for wallet and other leading wallets in the TON ecosystem, expanding its functionality.
The TON Foundation launched an incentive program, allocating 11 million Toncoin to promote USDT use on its network. At the Token2049 conference, Telegram founder Pavel Durov detailed new TON features, including payments for ads and tipping in TON, NFT sticker sales, and crypto-based account functionalities.
Read more: Pavel Durov reveals new Telegram blockchain features