We are proud to announce that TUSD has partnered with The Open Network (TON), which will allow users to transfer TUSD to TON through Orbit Bridge securely and quickly. This partnership marks a milestone in TUSD’s effort to strengthen multi-chain deployment, bringing TUSD holders more use cases while diversifying TON users’ stablecoin options.
TON is a revolutionary technology to unite all blockchains and Web2 internet into one open network. It was born to empower billions of Telegram users with genuine Web3. Originally introduced by the Telegram team inheriting its freedom and openness ethos, it has been run as an open-source community project since 2020. TON’s layer-1 architecture is designed to scale up to 2 to the power of 32 workchains, each of which can be subdivided into up to 2 to the power of 60 shardchains. It can support millions of transactions per second near-instantly.
With its total supply exceeding $2 billion, TUSD is undoubtedly one of the fastest-growing stablecoins. It is audited in real time by an independent, industry-specialized accounting firm in the US. Besides, after integrating with Chainlink, the token has become the first USD-backed stablecoin that leverages Proof of Reserves to secure its minting. Meanwhile, it adopts multi-chain deployment as a key growth strategy. Currently, TUSD has partnered with major public chains, including Ethereum, TRON, BSC, Fantom and Polygon to introduce more transparency and stability to the world of public chains and their DeFi ecosystems while allowing TUSD holders to have more investment options that bring higher earnings.
Orbit Bridge will enable the transfer of TUSD assets to the TON chain. As a cross-chain platform, fully-developed by Ozys, Republic of Korea’s leading blockchain tech company, Orbit Bridge allows crypto assets to flow across various blockchain mainnets such as Ethereum, BNB, Polygon, Klaytn, ICON, and XRP in a completely decentralized manner. As of now, it has bridged over $12.6 billion in crypto assets in over 872,000 transactions across 21 connected blockchains.
“There are many public chains in the market, and all of them hope that their ecosystems are filled with liquidity”, the head of TUSD’s marketing team noted, “TUSD is committed to becoming crypto users’ go-to payment choice. The partnership will not only inject liquidity into TON but also expand TUSD’s use cases.”
“We are delighted that TrueUSD is now available on TON via Orbit Bridge,” said Justin Hyun, Head of Incubation at TON Foundation. “TUSD provides live on-chain attestations by independent third-party institutions and is a trusted, transparent and regulated stablecoin backed one-to-one with the US Dollar. The addition of TUSD to TON will furnish levels of liquidity in the ecosystem and enable still more projects to flourish and grow.”
The Orbit Chain developer, Ozys said “We are happy that Orbit Bridge will serve as a gateway for TUSD to enter the TON ecosystem,” adding, “We hope that TUSD will emerge as a prominent stablecoin that leads the TON ecosystem with great potential to on board 700M Telegram users worldwide and hope that it will be an opportunity for moving towards a multi-chain ecosystem through Orbit Bridge.”
With a successful launch on TON as the very first step, TUSD will continue to seek partnerships with top TON-based DeFi protocols to provide its holders with the most transparent, convenient, and stable user experience as well as improved use cases and accessibility. We are dedicated to offering our users the best service and experience possible. Stay tuned with us!