Tether’s USDT stablecoin, EURT euro-pegged stablecoin, and Tether Gold (XAUT) are now accessible on OKX Chain, a high-performance, open-source smart contract platform backed by leading cryptocurrency exchange OKX, according to the company.
According to a press release from today, the collaboration between Tether and OKX Chain will provide smarter, more efficient, and more affordable on-chain trading for users. This will not only reduce the cost of making deposits and withdrawals but will also enable greater speeds.
In essence, this means that consumers would benefit from quicker USDT transactions with an average transaction cost of just $0.0001. Investors in USDT will feel more secure when trading on OKC because Tether has formally granted a licensed smart contract to the exchange.
Lennix Lai, Director of Financial Markets at OKX, commented on the development.
“Tether only lists USDT on some of the most prominent and successful public blockchains in the world, so we are delighted to welcome USDT to OKX Chain.”
Additionally, connecting USDT and Cosmos will be possible thanks to OKC’s EVM compatibility. This would be the initial formal issuance of USDT to a Cosmos-powered environment.
Users can now interact with the IBC/Cosmos ecosystem with just their OKX Wallet, eliminating the need to download an additional wallet plugin.
“OKX Chain is one of the few public chains that exists at the intersection of Ethereum and Cosmos, which means that users can enjoy the benefits offered by both ecosystems. Tether is one of the most successful stablecoins out there, and we are thrilled to be adding new bridges and trading pairs to help further expand the Tether ecosystem,” Lai added.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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