Tether Announced The Launch Of USDT On Polkadot

Tether, the business behind the blockchain-enabled platform Tether.to, which powers the world’s largest stablecoin by market value and the third largest cryptocurrency, announced the launch of USDT on Polkadot today.

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On the official Twitter page, Tether announced the development of a native token on the Polkadot blockchain.

In the announcement blog post, Tether said this is a new development milestone that will help the stablecoin expand its presence in decentralized ecosystems. The launch would allow USDT to move in and out of the Polkadot network. The company’s CTO, Paolo Ardoino, said:

“We’re delighted to launch USDT on Polkadot, offering its community access to the most liquid, stable, and trusted stablecoin in the digital token space. Polkadot is on a trajectory of growth and evolution this year and we believe Tether’s addition will be essential in helping it continue to thrive.”

After integrating Polkadot, USDT will be available on a total of 11 DeFi ecosystems, including many popular names such as Ethereum, Avalanche, Kusama, and Solana…

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This is said to be the latest move to expand the influence of this market-leading stablecoin while increasing pressure on existing stablecoins on Polkadot (typically aUSD with recent technical problems).

Recently, BUSD, Binance’s stablecoin, has also integrated native tokens on two new blockchains, Avalanche and Polygon.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.