Monat: Mai 2024

• Transak integrates USDT on TON, enhancing crypto accessibility for over 5 million users.
• The integration supports popular wallets, including Tonkeeper, Trust Wallet, and Telegram.
• TON Foundation invests 11M Toncoin to boost USDT adoption and user incentives.

Transak, a leading fiat-to-crypto on-ramp, has announced the integration of Tether (USDT) stablecoin on The Open Network (TON) Blockchain.

The listing follows the strategic collaboration between the TON Foundation and Tether, that was unveiled on April 19, 2024, at the TOKEN2049 event in Dubai.

The collaboration leverages TON’s highly scalable blockchain technology, Telegram’s massive user base of over 900 million, and Transak’s user-friendly Web3 onboarding process to offer a frictionless, borderless peer-to-peer (P2P) payments experience for USDT.

To encourage widespread adoption, the TON Foundation also committed a substantial investment of 11 million Toncoin, valued at approximately $72 million. These funds are earmarked for initiatives such as rewards within the Telegram Wallet, liquidity provider incentives on TON Decentralized Exchanges, and zero-fee USDT withdrawals on major centralized exchanges.

Sami Start, CEO & Co-Founder of Transak, expressed excitement about this new offering, highlighting Transak’s commitment to promoting responsible financial freedom and self-custody of digital assets. He emphasized the significant role this collaboration plays in enabling millions to access USDT on TON through Transak’s platform.

Expanding Tether’s (USDT) accessibility and use cases

Following the USDT integration on TON, Transak now offers a seamless way for its over 5 million users to purchase USDT on TON using fiat.

Over 350 decentralized applications (dApps) that incorporate Transak can now also provide their users with an easy and direct way to buy USDT via Transak.

All this will significantly enhance the USDT’s accessibility and also expand its practical use cases.

Buying USDT on TON via Transak

To buy USDT on the TON network via Transak, can visit Transak’s website or the respective section in their preferred dApp and then choose USDT, select the TON network, and enter the desired purchase amount.

After selecting a payment method (credit card, debit card, bank transfer, or other regional options), users must provide their TON wallet address, such as those in Wallet in Telegram, Tonkeeper, or Trust Wallet.

Depending on the payment method and local regulations, additional verification may be required.

Once verified, users can complete the purchase, and Transak will securely process the transaction and transfer the USDT to the specified wallet.

Notably, accessing USDT on Wallet in Telegram would also facilitate instant, no-fee transfers of USDT among Telegram contacts anywhere in the world.

The post Fiat-to-crypto on-ramp Transak integrates Tether (USDT) on TON Network appeared first on CoinJournal.

• Grayscale announced trusts for Near Protocol and Stacks.
• Crypto market is upbeat ahead of a potentially huge announcement from the SEC on spot Ethereum ETF.

Grayscale Investments has announced two new investment trusts to provide for diversified crypto exposure – the Grayscale Near Trust and Grayscale Stacks Trust.

According to details of the announcement, the two products are similar to other single-asset investment trusts and are exclusively invested in Stacks (STX) and Near Protocol (NEAR).

“By creating distinctive solutions to address blockchain’s scalability challenges, Stacks and Near are poised to help foster greater adoption—ultimately helping to drive the crypto ecosystem forward,” Rayhaneh Sharif-Askary, Head of Product & Research at Grayscale, said in a statement.

Eligible individual and institutional accredited investors can now access daily subscriptions for the two trusts, Grayscale specified in the announcement.

Grayscale eyes approval for its spot ETH ETF

Grayscale is a leader in the crypto products space, with its spot Bitcoin ETF (GBTC) currently the largest by assets under management (AUM). The company is also among those eyeing an approval from the US Securities and Exchange Commission (SEC) for spot Ethereum ETFs.

Like most other issuers, Grayscale submitted a revised 19b-4 filings for its spot Ether ETF. The platform joins BlackRock, Bitwise and other applicants in submitting the 19b-4s, with provisions for ETH staking removed.

The SEC is expected to approve the first spot Ethereum ETF for the US market, with an announcement highly anticipated on today.

Analysts forecast that an approval could catalyse an explosive run for ETH and other altcoins.

STX and NEAR tokens could surge amid this bull run, with the Bitcoin Layer 2 protocol Stacks also likely toget impetus from Bitcoin’s anticipated rally.

Stacks price was at $2.01 while Near Protocol traded at $7.64.

The post Grayscale launches investments trusts for Stacks and Near Protocol appeared first on CoinJournal.