Tether Announces Launch of USDT on Kusama

Tether (USDT), the most valuable dollar-pegged stablecoin with a market valuation of more than $80 billion, is launching on Kusama, a system of parallel blockchains that serves as Polkadot’s “canary network.” According to the press release, USDT will be deemed with the asset ID 1984 and utilized to power transactions on Kusama’s first parachain, Statemine at launch.

The parachain facilitates the deployment of assets, such as tokenized artwork and stablecoins, in the Kusama network in a cost-effective way and addresses blockchain security, scalability, and interoperability problems.

The latest inclusion is being welcomed as a historic moment in the evolution of decentralized applications seeking stablecoins that can run across several networks. USDT is currently supported on 10 networks, including Ethereum, Solana, Omni, Tron, Algorand, Liquid Network, EOS, and the Standard Ledger Protocol of Bitcoin Cash.

Following the development, Paolo Ardoino, CTO at Tether, said:

“We’re excited to launch USD₮ on Kusama, offering its community access to the most liquid, stable, and trusted stablecoin in the digital token space. For those who believe in the importance of decentralized, permissionless ecosystems, Kusama is a perfect representation of that ethos. It is a platform built to put the control in the hands of its users and we are looking forward to becoming an essential asset in its growing ecosystem.”

The announcement further reads:

“This announcement further solidifies Tether’s position as the most widely adopted stablecoins, having pioneered the concept in the digital token space.”

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