Stablecoin issuer Tether is launching its U.S. dollar-backed USDT and gold-backed XAUT stablecoins on The Open Network (TON) blockchain.

USDT on TON will go live on April 20, and XAUT on TON will follow in the coming months, Tether CEO Paolo Ardoino told The Block. While USDT is available on over a dozen blockchains, TON is the second blockchain XAUT is expanding onto after Ethereum, Ardoino said.

"The launch of USDT and XAUT on TON will allow seamless value transfer, increasing activity and liquidity while offering users a financial experience that can match those found in the traditional financial system," Ardoino said.

Bringing USDT and XAUT on the TON blockchain will help expand access to decentralized applications across verticals, including payments and gaming, Tether said.

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