The world’s largest stablecoin by market capitalization run by the company Tether Operations Limited has announced that they’ll be launching on the Tezos blockchain. As a result of this announcement, USDT is now available on 12 blockchain networks, including Tron, Ethereum, and Binance.
According to Tether, the stablecoin was launched on the Tezos network to “power revolutionary applications across payments, DeFi, and more.”.
Paolo Ardoino, the CTO at Tether speaking highly of the launch said “We’re excited to launch USDT on the Tezos network, which will offer its vibrant and growing community access to the most liquid, stable, and trusted stablecoin in the digital space,”
He also said that Tezos is fast coming into the scene and that this integration will be essential to its long-term growth.
Currently, Tether is the most widely used stablecoin with the most cryptocurrency pairs on exchanges, it is followed by USD Coin (USDC), the second most popular stablecoin. By increasing the availability of Tether on multiple blockchains, more users will be able to store their funds in non-volatile, USD-pegged cryptocurrencies. It will help users by making it easier for them to engage in Decentralized Finance (DeFi).
The stablecoin space has been growing recently, earlier this year in April, USDT AND USDC were added to the Cardano (ADA) blockchain.
Featured image source: NFT News
