Tether USDT stablecoin goes live on Near Protocol to boost DeFi presence

Tether USDT stablecoin goes dwell on Near Protocol to spice up DeFi presence

()
free bitcoin

Major stablecoin issuer Tether Operations Limited continues increasing integrations with various blockchain networks, launching the Tether (USDT) stablecoin on the Near Network.

Tether USDT is now dwell on the Near Network, a sensible contract-enabled blockchain platform designed for decentralized functions, Tether formally introduced on Monday.

The integration of Tether into the Near blockchain is a serious milestone within the agency’s dedication to extend its presence in decentralized finance (DeFi) ecosystems, the agency mentioned. “It will alleviate the potential antagonistic results related to market volatility and speed up scalability for its customers,” the announcement added.

The Near Network is the eleventh blockchain that’s at the moment obtainable for Tether USDT. The stablecoin is now additionally dwell on chains like Polygon, Kusama, Ethereum, Solana, Algorand, EOS, Liquid Network, Omni, Tron and Bitcoin Cash’s Standard Ledger Protocol.

At the time of writing, the largest share of USDT is issued on Tron and Ethereum, with $33 billion and $32 billion of USDT working on the blockchains, respectively. Together, Tron and Ethereum make up greater than 96% of Tether USDT issued, in accordance with Tether transparency.

Launched in 2014, Tether was initially launched and issued on the Bitcoin (BTC) blockchain through the Omni Layer protocol, an answer used for constructing and buying and selling digital belongings on prime of Bitcoin.

The addition of Near Network to the Tether’s ecosystem comes amid Near hitting a serious milestone of 700 tasks now constructing on Near, together with the Aurora Network and the Octopus Network. As of July, the Near community’s each day volumes averaged between 300,000 to 400,000 transactions.

Related: Tether responds to Wall Street Journal ‘disinformation’

The Near Foundation additionally introduced on Monday the launch of a $100 million enterprise capital fund and enterprise lab focusing on Web3 growth. The Swiss nonprofit launched the VC fund in cooperation with Caerus, a newly launched funding agency based by IMG vice chairman Nathan Pillai.

“The NEAR ecosystem has witnessed historic progress this 12 months and we imagine Tether will likely be important in serving to it proceed to thrive,” Tether chief technical officer Paolo Ardoino mentioned.





Source hyperlink

How useful was this post?

Click on a star to rate it!

Average rating / 5. Vote count:

No votes so far! Be the first to rate this post.

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

() Major stablecoin issuer Tether Operations Limited continues increasing integrations with various blockchain networks, launching the Tether (USDT) stablecoin on the Near Network. Tether USDT is now dwell on the Near Network, a sensible contract-enabled blockchain platform designed for decentralized functions, Tether formally introduced on Monday. The integration of Tether into the Near blockchain is…