Tether, the issuer of USDT, the largest dollar-pegged stablecoin in the crypto market, has announced the launch of its star product on Aptos, a scalable and rapid blockchain. Tether seeks to offer rails with “extremely low gas fees” for USDT users, opening opportunities for the development of new use cases such as microtransactions and large-scale operations.
Tether to Launch USDT Stablecoin on Aptos Blockchain
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Tether’s USDT to Launch on Aptos, Seeks to Benefit From Speed and Low Fees Ecosystem
Tether, one of the largest digital assets companies, has announced the next step into extending the usability of USDT, its star dollar-pegged stablecoin product. The company announced that it will launch USDT on top of Aptos, a blockchain project that offers speed and scalability advantages over other chains.
Aptos’ inclusion as part of the Tether ecosystem seeks to make its digital currency products more accessible to users outside the crypto ecosystem who might be enticed to use these relatively new technologies.
This speed and scalability also allow for “extremely low” gas fees, opening the door for applications that are not economically feasible in other chains, such as microtransactions and large-scale massive payments. This scalability has already been proven before, with Aptos processing over 95 million transactions on May 24 pushed by the popularity of Tapos, a tap-to-earn game.
Tether CEO Paolo Ardoino praised Aptos’ advantages and highlighted the benefits of this expansion strategy. He stated:
Aptos’ innovative technology offers a solid platform for facilitating faster and more cost-effective transactions with USDT. This collaboration underscores our ongoing efforts to lead with innovation and support our users with stable, reliable financial tools.
Aptos’ decentralized finance ecosystem is also positioned to benefit from native Tether’s inclusion, allowing users to deploy stablecoin capital easily and trustlessly. Aptos defi current total value locked (TVL) stands at $376 million, reaching over $500 million on March 31.
Bashar Lazaar, Head of Grants & Ecosystem at Aptos Foundation, stressed the relevance of this integration for the utility of the chain. “The launch of USDT on Aptos accelerates the availability and utility of real-world value for institutions, Web3 builders, and regular people worldwide,” he concluded.
What do you think about USDT’s launch on Aptos? Tell us in the comments section below.
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