A large portion of Polkadot network users were expecting it and Tether Limited made it happen. The company officially announced the launch of the USDT stablecoin on Polkadot. This news is of the utmost importance for the stablecoin, because thanks to this new achievement, it strengthens its position in the market.
Another milestone achieved by USDT
So far, USDT is the largest US dollar-based stablecoin. With capitalization close to $67.5 billion according to The Block, it is clearly one of the most prominent cryptos. Already supported by several networks, the stablecoin now opens its horizons to a new audience: that of Polkadot users. It was already available on several other blockchains: Ethereum, Solana, Algorand, EOS, Liquid Network, Omni, Tron and Bitcoin Cash’s Standard Ledger Protocol.
On the occasion of the launch on Polkadot, Paolo Ardoino, Chief Technology Officer at Tether declared : “We are thrilled to launch USDT on Polkadot, giving its community access to the most liquid, stable and trusted stablecoin in the digital token space.” Thus, the goal is to allow crypto to reach a new community.
Mr. Ardoino also added: “Polkadot is on a trajectory of growth and evolution this year and we believe the addition of Tether will be key to helping it continue to thrive.” With the launch, developers will be able to integrate USDT into DeFi applications based on Polkadot.
Polkadot blockchain users can rub their hands. Indeed, Tether (USDT) is now available on the network, which increases the chances of new people becoming interested in this crypto. Moreover, developers can now use it to create new applications or introduce it into applications that are already successful in the market.
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