TON Gets Major Usability Boost with Binance’s USTD Integration

USDT deposits and withdrawals on Binance are now available via the Toncoin Network, boosting user demand.

Digital hand holding a blockchain cube with a dollar and paper planes are flying around.
Created by Kornelija Poderskytė from DailyCoin
  • Users can now deposit and withdraw USDT on TON.
  • The integration will further boost TON traffic.
  • TON has seen a major boost with Telegram integrations.

As competition among high-performance chains is ramping up, user retention is becoming increasingly important. The Open Network (TON) has been making significant progress recently, driven largely by its integration with the Telegram app. Integrating with its would-be sister app brings much-needed real users to the network. 

The latest to recognize TON’s growing importance was Binance, the world’s largest crypto exchange. The exchange has integrated TON for USDT transfers, enabling users to deposit and withdraw stablecoin using the network. 

Binance Enables USDT Deposits and Withdrawals with TON

Thanks to significant user growth, TON won a spot among the top blockchains on Binance. On Friday, June 21, Binance announced the successful integration of Tether (USDT) on the Toncoin Network, making it one of the 16 networks supported for USDT withdrawals. 

Sponsored

This integration places Toncoin alongside major networks such as Ethereum, Binance Smart Chain (BSC), Tron, Polygon, Solana, and Avalanche. This is a significant milestone for Toncoin, enhancing its utility and adoption within the cryptocurrency ecosystem.

USDT coin selection in Binance platform.
Source: Binance.com

The integration of USDT on the Toncoin Network significantly simplifies transferring assets for TON users. Namely, they can now deposit and withdraw USDT directly on the Toncoin Network without moving assets on and off different blockchains.

In addition, integrating with Binance and USDT, the largest exchanges and stablecoins, will likely drive increased adoption of the Toncoin Network. Moreover, adoption is rapidly increasing thanks to TON’s integration with Telegram. 

Toncoin Sees Growth Thanks to Telegram Integration 

Toncoin’s integration with Telegram has been a game-changer for the network, originally a Telegram project. With over 900 million active users, Telegram’s platform provides a massive user base for Toncoin. Its crypto features, including non-custodial wallets and decentralized exchanges (DEX), are all integrated with TON. 

Sponsored

One of the other major developments is the launch of Telegram’s mini-apps, which are third-party applications that run within the messenger. Some of the most popular include clicker apps, including a Toncoin native Notcoin, which gained millions of users. 

Telegram’s implementation of blockchain features has expanded Toncoin’s use cases significantly. Users can now register Telegram accounts without mobile numbers by purchasing anonymous numbers on the Fragment blockchain using Toncoin. This has driven up the usage of TON, demonstrating its practical applications within the Telegram ecosystem. 

On the Flipside

  • Telegram app was the original developer behind TON. However, a lawsuit by the US Securities and Exchange Commission has forced Telegram to divest from the network, leaving it to independent developers. 
  • Regulations are a continued risk for TON, as its deepening integration with Telegram could attract scrutiny. 

Why This Matters

Binance’s integration of TON recognizes the network’s recent growth and technical developments, especially within the Telegram ecosystem. The organic growth the network experienced puts it in a strong position to compete with other scalable chains. 

Read more about Telegram’s clicker apps: 
Why Clicker Apps Like Notcoin Are Taking Off on Telegram

Read more about LayerZero’s controversial airdrop: 
Major Exchanges List LayerZero (ZRO) Amid Disappointing Airdrop

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
David Marsanic

David Marsanic is a journalist for DailyCoin who covers the intersection of crypto, traditional finance, and government. He focuses on institutionalized crypto entities like major cryptocurrency exchanges and Solana, breaking down complex topics into easy-to-understand writing. David's prior experience as a business journalist at various crypto and traditional news sites has enabled him to maintain a critical approach to news while adhering to high journalistic integrity standards.