The leading stablecoin, Tether, has announced the launch of a new asset, Tether (USDT) tokens, built on the Tezos blockchain, and with the ambition of expanding its digital footprint in the digital payments and decentralized finance sector ( DeFi).
According to the press release, “USDT on Tezos will power revolutionary applications across payments, DeFi, and more.” In conversation with a Tether representative, more context was provided as to the intended utility of Tether tokens:
“Tether tokens are not an investment, but rather a utility to engage in internet commerce, combat volatility, and provide a safe haven for remittances. Tether tokens can be securely stored, sent, and received via the blockchain and are redeemable for the underlying asset, subject to the terms of service and fee schedule.”
The representative went on to reveal the names of the 12 blockchain networks, including Tezos, on which the asset will be accessible.
“Tether currently supports transfers on a diverse and growing list of blockchain networks, including Solana, Ethereum, Kusama, Avalanche, Polkadot, Algorand, EOS, Liquid Network, Omni, Tron, and the Bitcoin Cash Standard Ledger Protocol.”
Tether CTO Paolo Ardoino spoke highly of the launch, anticipating that it will support Tether’s growth for years to come.
“Tezos is quickly entering the scene and we believe this integration will be essential to its long-term growth.”
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.