Tether’s USDT Stablecoin will Launch on Polygon

May 27 Tether says the launch of USDT on Polygon will help the blockchain network ecosystem.

USDT stablecoin coming to Polygon

The company behind the largest stablecoin by market capitalization, Tether, is currently offering their USDT token on Polygon. There are currently more than 19,000 decentralized applications running on Polygon. Tether says its users can now use this stablecoin to move funds in and out of that ecosystem and generate profits.

Tether was first issued on the Bitcoin protocol via the Omni Layer. Still, it has since migrated to other networks such as Ethereum, resulting in increased trading volume and liquidity in recent years.

Having USDT on Polygon will help Tether expand its reach in the crypto market.

While this Tether’s token is available on many blockchains, its usage on Ethereum and Tron is the highest, as shown on the chart below from Block’s Data Dashboard.

One of the main reasons USDT is so popular on Tron is that the blockchain is cheaper and faster than Ethereum. Traders use USDT on Tron more to transfer funds between platforms. But if traders prefer products that are still in the Ethereum ecosystem, they can switch to Polygon.

Earlier this week, Tether launched a stablecoin pegged to Mexican pesos as part of its expansion into Latin America.

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.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Foxy

Coincu News