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Tether launches USDT on TON Network, Telegram Wallet Tether's US dollar-pegged USDT and gold-pegged XAUT tokens have launched on The Open Network (TON), facilitating peer-to-peer (P2P) cross-border payments via Telegram's Wallet app among over 900 million global users. TON is a blockchain network that Telegram started to develop in 2018, but they open-sourced it in 2020 after the U.S. Securities and Exchange Commission (SEC) charged the firm with violating federal securities laws.

Telegram has been locked in a fierce legal battle with the US SEC, which wants to block the company's initial coin offering and halt the launch of its Telegram Open Network, or TON, blockchain. But that hasn't stopped the social network from pushing ahead with the technical details of its project. On Feb. 3, Telegram issued the latest version of its whitepaper for its TON blockchain.

Some investors in the Telegram Open Network (TON) are reportedly ready to get their money back. In October, TON investors rejected the option to get around 77% of their money back and agreed to postpone the launch of TON to April 30, 2020.

The Telegram Open Network (TON) operating system (OS), an end-to-end open-source infrastructure that allows developers and users to work with the TON blockchain, will reportedly soon be available on smartphones and personal computers for mainstream users. TON OS is not an alternative to existing operating systems, but will serve as an add-on for devices, making them able to support blockchain applications. This is despite Telegram's ongoing legal battle against the U.S. SEC. (Telegram is seeking to appeal a U.S. federal court's ruling in favor of the SEC to halt the distribution of the platform's native Gram tokens.)

Momentum for TON has been building over the past few months and the token distribution set for Oct. 16 was drawing ever nearer. In August and September, Telegram released the TON testnet for both explorer and node software, launched a free wallet service for its 300 million users, and announced a controversial $400,000 bug bounty. Just as everything was falling into place for the company - the SEC stepped in.

Prior to abandoning its involvement in the Telegram Open Network and GRAM token, Telegram offered TON investors in its 2018 $1.7 billion initial coin offering an immediate 72% refund, or a 110% refund in 12 months. However, the majority of TON investors purportedly decided to get their money back as soon as possible, choosing the 72% option.

The Telegram Open Network, or TON, is Telegram's upcoming Proof-of-Stake network that promises to integrate blockchain payments into its messaging app that serves some 365 million users. If it delivers on promises of high speeds and decentralization, it will be the largest blockchain launch in history.

Telegram's TON blockchain is designed as a proof-of-stake protocol with the support of multiple "shardchains." Validators, chosen from among those users who stake considerable amounts of tokens, will confirm the blocks.

The TON Community Foundation, a group of more than two dozen software developers and investors, who are now discussing possible ways to launch the Telegram Open Network (TON) without the messaging platform's participation.

Telegram has notified investors that the TON blockchain project will be launched later than planned, pushing the deadline from Oct. 30 to April 30, 2020.

GRM is a native currency of Telegram Open Network, a blockchain platform aimed at facilitating payments and hosting decentralized applications beyond Visa's scalability levels. The project is developed by Telegram, an open-source encrypted messenger, which boasts over 200 million users worldwide, into which TON will ostensibly be integrated into.

Three African country governments are working on a cross-border stablecoin-based payment system with The Open Network (TON), a blockchain designed by the founders of the Telegram messaging platform. The three countries are Republic of Congo (Ministry of Posts, Telecommunications and Digital Economy) Cameroon (Ministry of Posts and Telecommunications), and the Democratic Republic of Congo (Ministry of Digital Economy). Cameroon and the Republic of Congo are part of the Central African Economic and Monetary Community (CAEMC), a six-nation union that shares a common currency (CFA franc) and central bank

Telegram's new blockchain project will be compatible with ethereum, according to a tech startup building tools for the network. The messaging company is expected to release the code to run a node on the Telegram Open Network (TON) on September 1, allowing users to trial its project in advance of the project's expected mainnet launch on Oct. 31.

Telegram has hit 400 million unique monthly users, but due to an ongoing court case with the SEC, users won't have direct access to the Telegram Open Network. If the TON doesn't launch by April 30 its investors are entitled to refunds totalling $1.7 billion

Telegram has told its token investors that they are "surprised and disappointed that the SEC chose to file the lawsuit." Telegram says it has tried to communicate with the regulator and solicit feedback over the past 18 months regarding its TON blockchain project. In its suit, the SEC said it asked Telegram to respond to an administrative subpoena and it refused to do so. In part because of this refusal, the SEC said that it had no choice but to file suit.

"To the extent permitted by applicable law, Governmental Authorities, and technology and mobile platforms, the Parent shall use its reasonable endeavours to facilitate the use of Tokens as the principal currency used on Telegram Messenger by building TON Wallets into Telegram Messenger."

Telegram, the messaging app company currently facing a legal fight with the U.S. Securities and Exchange Commission over its $1.7 billion token sale, revealed more details about the technical specifications underpinning its TON blockchain Wednesday.

Encrypted messaging app Telegram has appealed the court decision that effectively killed its attempt to distribute its GRAM tokens based on claims that the TON digital asset was an unregistered security.

Castel reserved judgment on the preliminary injunction and assured Telegram's lawyer Drylewski there would be a judgment in the case before April 30, when gram investors expect to see the TON blockchain launched. Telegram consented to prolonging the preliminary injunction after Castel explained that not consenting would mean the court would make a decision immediately.

Undeterred by the U.S. Securities and Exchange Commission's lawsuit against Telegram, developers and investors in the company's blockchain project have formed a nonprofit for community governance.