Tether USDT stablecoin’s net circulation surpassed 500 million on the The Open Network (TON). According to The Block’s USDT supply dashboard there were 519.28 million USDT stablecoins on the TON network as of Tuesday.

This comes around two months after Tether launched the U.S. dollar-backed stablecoin on TON, along with the company’s gold-backed stablecoin, XAUT. 

“The demand for USDT-TON is soaring, and it’s not surprising,” The Open Network announced via its official Telegram channel. “The ability to send digital dollars to anyone, anywhere, as easily as sending a text message, is a practical and real-world use case that sets USDT-TON apart.”

Earlier this month, TON blockchain’s total value locked crossed $600 million, which was double the value locked three weeks prior. TON now …