Tether (USDt) on TON Deposits & Withdrawals Available on Bitfinex - Bitfinex blog
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Tether (USDt) on TON Deposits & Withdrawals Available on Bitfinex

ROAD TOWN, British Virgin Islands – April,29, 2024 – Bitfinex (https://www.bitfinex.com/), a premier digital asset trading platform, announced today that customers can now deposit and withdraw their Tether tokens (USDt) on The Open Network (TON) on Bitfinex. This means that they will no longer have to rely on external, third-party wallets to use USDt on TON and can simply use their Bitfinex accounts.

Telegram unveiled the Open Network (TON) in 2018 as a decentralised counterpart to the traditional internet, leveraging blockchain technology. TON not only furnishes crucial services such as decentralised storage and payments for decentralised applications (dApps) but also integrates seamlessly with Telegram. The TON ecosystem includes a decentralised exchange and staking tools, along with domain names and multifunctional wallets. It is designed to allow for billions of quick, inexpensive, and energy-efficient transactions.

Bitfinex streamlines the activation of destination addresses seamlessly, eliminating any additional steps. To initiate USDt transfers on TON, customers simply need to specify their withdrawal addresses.

Tether’s USDt is the first and most widely used stablecoin on the market, with CoinGecko reporting a market capitalisation of over $109 billion.

“The Open Network has generated a lot of excitement in the cryptocurrency community, and its recent announcement that it is now offering USDt on its blockchain promises that the buzz around this innovative project will continue. We are thrilled that Bitfinex customers will have seamless access to transferring USDt through this ascending network,” said Henry Child, Head of Tokens at Bitfinex.

Following this latest integration, Bitfinex customers are now able to deposit USDt across 18 blockchains and withdraw USDt across 15 blockchains*. This includes Algorand, Avalanche, Bitcoin Cash’s Simple Ledger Protocol (SLP), Ethereum, EOS, Liquid Network, Omni, Polygon, Polygon zkEVM, Tezos, Tron, Solana, Polkadot, Kusama, the Near Network, Kava, Celo and now, The Open Network. 

* Withdrawals of USDt on Kusama, Bitcoin Cash SLP, and Omni Layer blockchains are no longer being supported as of 01/09/2023. See the full announcement here.

To learn more, customers can visit https://www.bitfinex.com/.

*All users of www.bitfinex.com are subject to Bitfinex’s terms of service (“TOS”). Please note that U.S. persons (as defined in the TOS), among other prohibited persons (as defined in the TOS), are strictly prohibited from directly or indirectly holding, owning or operating an Account (as defined in the TOS) on www.bitfinex.com. 

About Bitfinex

Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital tokens. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world. Visit www.bitfinex.com to learn more.

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