Tether Launches USDT On Near Blockchain

Tether’s USDT stablecoin has been launched on Near, a Layer 1 proof-of-stake blockchain that promotes usability and scalability.

After Ethereum, Solana, Avalanche, Algorand, Polygon, Tron, Omni, EOS, Liquid Network, Kusama, Tezos, and Bitcoin Cash’s Standard Ledger Protocol, Near is the 13th blockchain to host USDT.

Tether claims that the launch of USDT on Near will benefit the blockchain network’s ecosystem. Near currently has 700 projects under construction or running. According to Tether, their users can now use USDT to move money in and out of the ecosystem and generate yield.

The Near Foundation has established a $100 million venture capital fund and web3 lab. It also formed a working group to establish self-governance standards.

Tether CTO Paolo Ardoino said:

“We’re excited to launch USDT on Near, offering its community access to the first, most stable, and trusted stablecoin in the digital token space. The Near ecosystem has witnessed historical growth this year and we believe Tether will be essential in helping it continue to thrive.”

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