the stablecoin Tether’s USDT has been deployed on several blockchains this year. This has helped increase its market capitalization, which is currently estimated at over $67 billion. USDT is currently the largest stablecoin by market capitalization. That said, after being rolled out to the Tezos (XTZ) blockchain in June, USDT has just been added to the Near blockchain. Find out what this new deployment entails.
A beneficial addition for the Near ecosystem and USDT?
The Near blockchain, which operates on the basis of Proof-of-Stake (PoS) consensus, is easy to use and scalable. This is the 13e blockchain to host the stablecoin. A total of 700 projects are deployed on this network, which can help Tether generate returns. With this new additionthousands of new users will be able to transfer money with USDT.
Tether CTO Paolo Ardoino said, “We are excited to launch USDT on Near, providing its community with access to the first, most stable and trusted stablecoin in the digital token space.» «the Near ecosystem has seen historic growth this year. And Tether’s USDT stablecoin will be very useful for it to continue to thrive. ” he added.
After all, the availability of USDT on Near isn’t just going to move money around the blockchain ecosystem. It will also promote the transfer of funds outside this ecosystem.
USDT is now available on Near which thus becomes the 13e Layer 1 network to host it. Remember that the stablecoin remains available on the Ethereum, Tron, Solana, Polygon, Avalanche, Algorand, Omni, EOS, Liquid Network, Kusama, Tezos and Standard Ledger Protocol blockchains of Bitcoin Cash. Note that USDT is used more on networks Ethereum (ETH) and Tron (TRX).
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