TON Foundation Integrates FDUSD on TON Blockchain

The TON Foundation announces that the First Digital USD (FDUSD), the stablecoin of First Digital Group, is now natively available on TON Blockchain. This strategic move strengthens TON’s vision of becoming the leading platform for stablecoins, expanding on-chain liquidity and opening new opportunities for a potential audience of one billion users.

The integration of FDUSD on TON expands the stablecoin’s existing presence, which was previously available on Ethereum, BNB Chain, Sui, and Solana. This collaboration allows FDUSD to leverage the speed, scalability, and efficiency of the TON blockchain.

TON and FDUSD: a strategic partnership

The arrival of FDUSD on TON represents a significant enhancement for the entire ecosystem. TON, recognized for its high-performance infrastructure and integration with Telegram, solidifies its position as a key blockchain for stablecoin transactions. Access to FDUSD in regions with a strong TON community will promote greater liquidity and encourage the adoption of decentralized solutions.

Vincent Chok, CEO and founder of First Digital, stated:
> “We are offering a fluid, reliable, and universal stablecoin that simplifies on-chain transactions to the level of everyday communication. This alignment meets the demands for accessibility and ease of use, driving the adoption of stablecoins as a practical and scalable solution for global payments.”

FDUSD: the engine of stablecoin liquidity on TON

TON provides an exclusive infrastructure for the Telegram Mini App ecosystem, making it ideal for social, financial, and payment applications. Consequently, FDUSD acts as the reference stablecoin, ensuring reliability and stability in this environment.

Upon launch, FDUSD will be accessible on TONCO, the first decentralized exchange on TON with concentrated liquidity, and on major wallets, including TON Wallet, Tonkeeper, and MyTonWallet. This will guarantee reliable liquidity for DeFi users. Additionally, businesses and institutions can open accounts and mint FDUSD directly through First Digital Labs, facilitating conversion between fiat currencies and FDUSD.

Max Crown, CEO of TON Foundation, remarked:
> “Bringing FDUSD to TON is a fundamental step towards integrating stablecoins into everyday life. Now anyone can send and receive FDUSD on TON, making on-chain transactions as fast and simple as sending a message. This launch makes stable and reliable transfers more accessible than ever.”

Distinctive Characteristics of FDUSD

FDUSD, issued by First Digital Labs (FD121 Limited), is guaranteed at a 1:1 ratio with the US dollar, with reserves held in segregated accounts at regulated financial institutions. Transparency is upheld through monthly independent audits on reserves.

Currently, FDUSD operates on several significant blockchains, including Ethereum, BNB Chain, Sui, Solana, and Arbitrum, providing a versatile solution for stable payments, international remittances, DeFi lending services, and price volatility hedging. Notably, FDUSD is not intended for U.S. users, and minting and redemption services are unavailable to individuals or entities in the United States.

TON: a global vision for Web3

The Open Network (TON) aspires to become a global decentralized blockchain community, aiming to make crypto accessible to everyone. By constructing the Web3 ecosystem within Telegram Messenger, TON targets enabling 500 million users to manage their digital identities, data, and assets by 2028. The integration of FDUSD enhances this vision, offering Telegram and TON users a reliable, easily accessible stablecoin that can facilitate various payment and financial services.

Conclusion: a future of stable and accessible payments

The launch of FDUSD on the TON Blockchain signifies a pivotal moment for decentralized finance. Users, businesses, and institutions can now access a reliable and transparent stablecoin, capitalizing on the speed and scalability of TON and the broad reach of Telegram. The partnership between TON Foundation and First Digital Group marks the beginning of a new era in digital payments, combining stability with the power of next-generation blockchains. With FDUSD on TON, the goal of a global, accessible, and decentralized finance system is closer than ever.