Tether Launches USDT Stablecoin on Aptos Blockchain
2024-08-20 06:39:00
Tether, the issuer of stablecoins, is broadening its blockchain offerings by introducing the USDT stablecoin to the Aptos ecosystem.
Tether is set to launch on Aptos, a layer-1 solution created by former Facebook employees.
Although the specific launch date has not been revealed, Tether emphasized the importance of Aptos' "robust developer community" in their decision, pointing to the network's "consistent growth in deployed contracts, which reflects active and ongoing development."
In addition to development activity, Tether noted that the network's "exceptionally low gas fees" also influenced their choice to support Aptos, making it "economically viable for a wider array of applications, ranging from microtransactions to large-scale enterprise operations."
The strategic partnership between Tether and Aptos harnesses these innovative features to improve the utility and accessibility of USDT, increasing its attractiveness to users from diverse economic backgrounds.
Mo Shaikh, the CEO of Aptos Labs, remarked on the partnership, stating that the network is poised to handle "large volumes and quickly expand its user base."
This recent integration marks Tether's ongoing expansion across various blockchain networks, including Ethereum, TRON, and Solana, among others. Despite its extensive presence, a significant portion of Tether's supply is concentrated on just two networks: TRON and Ethereum, which hold $60.8 billion and $52.9 billion in liquidity, respectively, according to Tether's data.
However, as competition grows fiercer, Tether is also reducing its support for certain networks. In mid-June, the company announced that it would discontinue support for several stablecoins on platforms such as Omni, Kusama, SLP, EOS, and Algorand, starting in September 2025. This decision is aimed at prioritizing maintainability, usage, and community interest.
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pepex122
Its Very Good
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filip
Considering the major problems of this blockchain, I can imagine that users will not get an attractive experience.
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