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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