Crypto

Crypto: Tether deploys USDT on the Near blockchain

Tether USDT stablecoin has been deployed on multiple blockchains this year. This has helped boost its market capitalization, which is currently valued at over $67 billion. USDT is currently the largest stablecoin by market cap. However, after deploying to the Tezos (XTZ) blockchain in June, USDT has just been added to the Near blockchain. Find out what this new rollout entails.

A beneficial addition to the Near and USDT ecosystem?

The Near blockchain, powered by Proof-of-Stake (PoS) consensus, is easy to use and scalable. This is the 13th blockchain to host a stablecoin. In total, there are 700 projects deployed on this network that can help Tether make a profit. With this new addition, thousands of new users will be able to transfer money using USDT.

Tether CTO Paolo Ardoino said: “We are excited to launch USDT on Near, giving the community access to the first, most stable and trusted stablecoin in the digital token space. “The Near ecosystem has experienced historic growth this year. And Tether USDT stablecoin will be very useful for its further prosperity. he added.

After all, the availability of USDT on Near will not only help move money around the blockchain ecosystem. This will also facilitate the transfer of funds outside of this ecosystem.

USDT is now available on Near, which becomes the 13th Tier 1 network to support it. Remember that the stablecoin is still available on the Bitcoin Cash Ethereum, Tron, Solana, Polygon, Avalanche, Algorand, Omni, EOS, Liquid Network, Kusama, Tezos, and Standard Ledger Protocol blockchains. Note that USDT is more used on the Ethereum (ETH) and Tron (TRX) networks.

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Avatar of Luke Jose Ajinaku
Luke Jose Ajinaku

The failed cryptocurrency investment in 2017 not only did not dampen my enthusiasm, but only increased my enthusiasm. Therefore, I decided to study and understand the blockchain and its many applications, as well as pass on information regarding this ecosystem with my pen.

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