Tether’s USDT Stablecoin Launched On Polkadott
Tether Limited has launched its stablecoin USD Tether (USDT) on Polkadot, an interoperable network that connects multiple proof-of-stake blockchains.Tether announced that the stablecoin was now natively available on Polkadot. According to data from The Block, USDT is the largest dollar-based stablecoin with a market capitalization of approximately $67.5 billion.Tether maintains the value of the centralized stablecoin using a basket of assets and cash reserves.
With the latest announcement, Tether has further expanded its position as a stablecoin available on various blockchains. In addition to Polkadot, the stablecoin is supported on other networks, including Ethereum, Solana, Algorand, EOS, Liquid Network, Omni, Tron, and Bitcoin Cash’s Standard Ledger Protocol.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,” said Paolo Ardoino, chief technology officer at Tether.Polkadot has been on a growth and evolution path this year, and we believe the addition of Tether is critical to its continued success. ”
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