Tether, the world’s most popular stablecoin, has announced the launch of the Tether (USDT) token on Tezos blockchain to increase its digital footprint in digital payments and DeFi sectors.
“USDT on Tezos will enable breakthrough applications across payments, DeFi, and more,” according to the press announcement. More information about the expected utility of Tether tokens was offered during a conversation with a representative:
“Tether tokens are not an investment but a utility for engaging in internet commerce, combating volatility, and providing a safe haven for remittances. Tether tokens can be securely stored, sent, and received across the blockchain and are redeemable for the underlying asset, subject to the terms of service and fee schedule.”
The speaker went on to divulge the identities of the 12 blockchains on which the asset will be available, including Tezos.
“Tether currently supports transfers on a diverse and growing list of blockchains including Solana, Ethereum, Kusama, Avalanche, Polkadot, Algorand, EOS, Liquid Network, Omni, Tron and Bitcoin Cash’s Standard Ledger Protocol.”
Paolo Ardoino, Tether’s chief technical officer, praised the launch and predicted that it will help the company develop in the future years.
“Tezos is coming fast onto the scene and we believe that this integration will be essential to its long-term growth.”