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Tether (USDT), the world’s largest stablecoin, is now live on Tezos (XTZ) network. Tezos is one of the most energy-efficient, self-amending blockchains out there, and its goal is to bring smart money to the people. In doing so, the project hopes to redefine the concepts of holding and exchanging value in the digital world. Furthermore, the project has a proven track record, it is very easy for it to adopt new and innovative concepts and upgrades, and all that with no network disruptions whatsoever.
In addition to its launch on Tezos, Tether also confirmed that its stablecoin is now also available on Bitfinex, a major, very popular cryptocurrency exchange.
Tether goes lice on Tezos
The launch of USDT on Tezos's network represents another step in Tether’s growth. The project managed to become the world’s largest and most distributed stablecoin, and it seems to be planning to maintain that momentum.
Tether was launched by the company of the same name, and its CTO, Paolo Ardoino, commented on the new move by saying that the company is excited to launch its stablecoin on Tezos. This will allow it to offer its growing and vibrant community access to one of the most liquid, stable, and trusted stablecoins in the entire digital space.
While Tether has already had countless integrations of its coin across multiple blockchains, each of them — including this latest one — represents an important milestone. Tezos itself has seen a noticeable increase in usage over the past year, and is now listed as one of the largest developer ecosystems in the crypto industry.
Tether and Tezos continue to grow
One of the project’s most interesting and completely unique features is its ability to bring forkless upgrades. This and other features allowed it to develop dedicated higher throughput L2 solutions for EVM and WASM. The project’s features also make it a platform of choice for institutions and brands interested in entering the world of decentralized finance and the upcoming Web3.
Further, the announcement stands as a testament to how rapidly Tezos’ own ecosystem is growing. It is quite vibrant already, offering a top NFT marketplace, a leading generative art platform, DeFi apps, its own DEX, an EVM bridge, and more. Not to mention all the major brands that have already come is way, such as Manchester United, The Gap, Team Vitality, and others.
With the launch of Tether as well, the Tezos network only further highlights both projects’ dedication. Tether is pioneering collaboration and interoperability, while Tezos gets to enrich its ecosystem and bring additional opportunities for its users. Furthermore, Tether is also still ready to make the biggest leap that the financial industry has ever seen.
Tether has come a long way from its controversial days, and so far, its progression has been nothing short of exceptional.
To learn more visit our Investing in Tezos guide.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.