Tether Launches USDT0 For Cross-Chain Transactions
Tether is launching new cross-chain StablecoinUSDT0, cooperates with Kraken. The coin will primarily focus on interoperability.
The company launched USDT0 on Kraken’s Layer-2 network Ink for the first time. Expansion to Berachain and MegaETH will follow, with future expansion goals set.
USDT0: A new solution for Tether
tether, One of the largest stablecoin issuers in the worldit’s been an eventful few weeks. New MiCA legislation Severe cuts to its EU operationsbut the company is well prepared Avoid lasting damage.
Earlier this week, Tether announced Complete relocation to El Salvadornow is emission The new USDT0 stablecoin.
“USDT0 introduces a much-needed solution that enables the seamless movement of USDT across the ecosystem. By increasing interoperability and reducing friction, it enhances the user experience in a way that is consistent with Tether’s broader vision. Paolo Ardoino, CEO of Tether, said : “It’s great to see this innovation emerging and meeting a real market need. “
Tether claims USDT0 will be launched on Ink first, L2 powered by Kraken. This is a natural choice for partners because the exchange Cooperate with Tether on multiple occasions Related to MiCA launch.
Tether said USDT0 will be a cross-chain token that can “create a seamless path for institutional liquidity.” Specifically, it will be a tool to make it as easy as possible to transfer USDT between blockchains, thereby promoting Decentralized Finance grow. The new stablecoin’s slogan is “Your USDT, Everywhere” and it will focus on interoperability.
USDT0 is already live on Ink, but Tether claims its first wave of scaling partners are already developing features. First is Berachain, Liquidity-centric L1 blockchainand MegaETH, Promising Ethereum-based projects. Additional partners will be announced in the coming weeks.
This new USDT0 stablecoin is expected to greatly enhance the functionality of the entire Tether ecosystem. company sees Profits increased significantly The asset is part of ambitious investments in the new year until the end of 2024.
It will take some time to determine whether the launch of USDT0 is successful, but the move shows confidence.
Overall, Tether’s USDT has seen a surge in demand during the current bull market. Growing demand and profits have allowed the stablecoin giant to expand through different avenues.
At the beginning of this month, Tether adds to Bitcoin reserves An increase of $700 million. It also invested a similar amount in decentralized video sharing platform Rumble.
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