Mercuryo Announces Fiat-to-Crypto On-Ramp Services for Tether on TON

Mercuryo, a global payments company, has recently announced a partnership with The Open Network (TON) to provide fiat-to-crypto on-ramp services for Tether (USDT). This collaboration aims to simplify the process of converting fiat currency to USDT, making it easier for users to participate in the TON ecosystem.

The Initiative: Enhancing User Experience

The new service allows users to seamlessly convert their fiat currency into USDT, which can then be used for various transactions within the TON network. This integration began with Tonkeeper, a self-custody wallet that supports transactions in Layer 1, The Open Network, and other digital currencies. Aviessa Khoo, Executive Director at Mercuryo, expressed satisfaction with the launch, highlighting its potential to streamline transactions across the network.

Integration with Telegram’s Wallet

A significant aspect of this initiative is the integration with Wallet, a Telegram-based crypto wallet boasting over 900 million users. This feature enables instant, fee-free transfers of USDT among Telegram contacts globally, significantly enhancing the usability and convenience of USDT for everyday transactions.

Future Plans: Expanding Services

Mercuryo plans to introduce off-ramp services later this spring, allowing users to convert cryptocurrency back to fiat. This feature will be available across various wallets within the TON ecosystem, broadening the functionality and appeal of TON-based financial services.

Incentive Programs and Community Engagement

To promote the use of USDT on its network, the TON Foundation has launched an incentive program, allocating 11 million Toncoin to reward users. This initiative aims to drive adoption and increase the utility of USDT within the TON ecosystem.

At the Token2049 conference, Telegram founder Pavel Durov detailed new features on TON, including payments for ads and tipping, NFT sticker sales, and crypto-based account functionalities. These developments are expected to further integrate and enhance the ecosystem’s appeal.

Conclusion: A Strategic Move for Growth

Mercuryo’s partnership with TON to launch fiat-to-crypto on-ramp services for USDT marks a significant step towards enhancing cryptocurrency accessibility and usability. By simplifying the conversion process and integrating with widely-used platforms like Telegram, this initiative is poised to drive broader adoption and engagement within the TON ecosystem. As these services expand, they promise to bring greater convenience and functionality to users, solidifying TON’s position in the crypto market.