At the Token2049 event in Dubai, Tether announced it will launch its US dollar–pegged stablecoin USDT and its gold-backed token XAUt on The Open Network (TON).
Tether’s CEO, Paolo Ardoino, shared the stage with Telegram founder Pavel Durov and The Open Platform CEO Andrew Rogozov to reveal the move. This step aims to strengthen Tether’s ties with Telegram’s Web3 ecosystem and give users easy access to stablecoins and tokenised gold.
Launch on Telegram’s TON
Tether’s decision opens the door for millions of Telegram users to use USDT directly on TON. USDT is one of the most widely used stablecoins, and bringing it to Telegram’s blockchain should help reduce friction for those who already use the messaging platform.
By using the omnichain fungible token standard developed by LayerZero, USDT can move across different blockchains. This means holders can transfer or trade USDT on TON without wrapping or swapping tokens, making transactions faster and simpler.
Expansion of Tether Gold
Alongside USDT, Tether revealed that its gold-backed token XAUt will also be available on TON under the new name XAUt0. Each XAUt token represents one troy ounce of the London Bullion Market Association, a certified gold stored in a Swiss vault.
The token’s reserves, which exceed 7.7 tons of physical gold, are audited to meet ISAE 3000 standards. XAUt0 will allow users in the Telegram ecosystem to own a piece of physical gold in digital form. They can buy, sell, lend, or redeem gold tokens at any time of the day.
XAUt0 works just like USDT0, using LayerZero’s standard to let tokens move between blockchains while ensuring they remain backed by real gold.
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Tether’s New Business Structure
At Token2049, Tether also outlined a company restructuring. The firm will now operate under four divisions: Tether Data, Tether Finance, Tether Power, and Tether Edu.
This change reflects Tether’s ambition to expand beyond its core stablecoin business. Each division will focus on a specific area, from providing blockchain data to offering educational resources.
The aim is to make Tether more agile and better able to serve different parts of the crypto and Web3 ecosystems.
Features of XAUt0
XAUt0 brings several advantages to users who want exposure to physical gold. Unlike traditional gold markets that close on weekends, XAUt0 is available around the clock.
Holders can move tokens instantly across chains, increasing capital efficiency. The token’s omnichain nature means users do not have to worry about wrapping tokens or using bridges for each blockchain they work with.
XAUt0 also lets owners redeem their tokens for physical gold, delivered to a Swiss address. This combination of digital convenience and real-world backing makes XAUt0 a unique way to invest in gold.
By adding USDT and XAUt to TON, Tether is bringing more liquidity and choice to Telegram’s large user base. The move highlights how stablecoins and tokenised assets are becoming central to the Web3 vision.
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