cryptocurrency

Tether launches USDT Stablecoin on the upcoming protocol

  • Tether USDT can now be accessed on the 11th blockchain, which is the nearby protocol.
  • When Tether debuted in 2014, it was created on the Bitcoin (BTC) blockchain.

Rope (USDT) Released in near protocol, which is the latest in Tether Operations Limited’s growing list of blockchain integrations. Tether said Monday that Tether USDT is now available on Near Protocol, a blockchain platform that supports smart contracts and is optimized for decentralized applications.

Adding Tether to the nearby blockchain is an important step. In particular, towards the company’s goal of expanding its role in DeFi ecosystems, the company stated. In addition to Polygon, Kusama, Ethereum, Solana, Algorand, EOS, Liquid Protocol, Omni, Tron and Bitcoin Cash’s Standard Ledger Protocol, Tether USDT is now available on the 11th blockchain, the nearby protocol.

Expansion promotion

Currently, Tron and Ethereum have the largest number of US dollars in circulation, with $33 billion and $32 billion in circulation, respectively. According to Tether disclosures, over 96% of all issued USDT are backed by Tron and Ethereum combined.

When Tether debuted in 2014, it was created on the Bitcoin blockchain using a protocol called Omni Layer. This protocol is used to create and trade digital assets over the Bitcoin protocol.

Nir has reached a major milestone with 700 projects now being developed on the protocol, including the Aurora protocol and Octopus protocol, all of which are now part of the Tether ecosystem. Approximately 300,000 to 400,000 transactions were processed on the nearby protocol every day as of July. On Monday, the NIR Foundation announced the formation of a $100 million venture capital fund. And also a project lab dedicated to Web3 development.

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