Stablecoin Giant Tether Announces Partnership with This Altcoin! Here Are the Details

As part of its strategy to expand access to digital gold, Tether, one of the world’s largest stablecoin issuers, has partnered with the TON Foundation to launch XAUt0, an omnichain version of its gold-backed stablecoin XAUt.The new token is built using LayerZero’s Omnichain Fungible Token (OFT) standard, which allows XAUt0 to be transferred to other networks without the need for rewrapping or third-party bridge protocols.

This technical development is similar to the move Tether made earlier with its multi-blockchain-backed dollar stablecoin USDT0.

XAUt0’s first launch network was The Open Network (TON). Launched by Telegram but later becoming independent, TON has become a rapidly growing blockchain ecosystem, especially with the messaging app’s large user base.