USDT stablecoin is now available on 12 blockchains thanks to this latest development.
Tether Operations Limited, the parent company behind the USDT stablecoin, announced on Thursday that its stablecoin will launch on Tezos.
This latest development means that USDT is now available on 12 blockchains. According to the press release shared with Coinjournal, Tether said the addition of USDT to Tezos demonstrates its growing momentum as a thriving Proof-of-Stake blockchain which continues to build a reputation as the leading choice for brands and institutions looking to build the Web3 revolution.
Paolo Ardoino, CTO at Tether, commented on this;
“We are excited to launch USDt on Tezos, providing its growing and vibrant community with access to the most liquid, stable and reliable stablecoin in the digital token space. Tezos is quickly coming onto the scene, and we believe this integration will be critical to its long-term growth.
USDT’s launch on Tezos further indicates t Tether’s dedication to pioneering collaboration and interoperability within the growing digital asset space.
Tezos has become one of the world’s leading DeFi blockchains and is home to some exciting projects including yield farming protocol Youves, decentralized exchange and EVM bridge Plenty, and more.
Once USDT goes live on Tezos, it would be the largest stablecoin by market capitalisation available within the network.
Alessandro De Carli, founder of Papers, commented on this;
“With the introduction of USDT, the on- and off-ramps in the Tezos DeFi ecosystem are simplified and efficient. Tezos is an exemplary system with features and tools that have enabled innovative app designs not possible on other networks. The launch of USDt on Tezos will undoubtedly unlock new DeFi products, and I expect the impact on the volume growth of the Tezos DeFi ecosystem to be remarkable.
USDT remains the leading stablecoin in the world, with a market cap of over $80 billion. The stablecoin operates on numerous blockchains, including Algorand, Bitcoin Cash’s Simple Ledger Protocol (SLP), Ethereum, EOS, Liquid Network, Omni, Tezos, Tron, and Solana.
Meanwhile, Tezos is smart money, redefining what it means to hold and trade value in a digitally connected world.
