USDT launches on the Tezos blockchain

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 would 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 that;

“We’re excited to launch USDt on Tezos, offering its growing and vibrant community access to the most liquid, stable, and trusted stablecoin in the digital token space. Tezos is coming fast onto the scene, and we believe that this integration will be essential 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 leading DeFi blockchains in the world and is home to some interesting 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 at Papers commented that;

“With the introduction of USDT, on and off-ramps into the Tezos DeFi ecosystem are simplified and efficient. Tezos is an exemplary system with features and tools which have enabled innovative application designs not possible on other networks. The launch of USDt on Tezos will undoubtedly unlock new DeFi products, and I expect the impact on 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 the smart money, redefining what it means to hold and exchange value in a digitally connected world.