The firm behind the largest US dollar-pegged stablecoin by market cap will soon be launching on another layer-1 blockchain.
According to a new announcement from Tether, USDT will soon be available on Aptos (APT), a high-speed Ethereum (ETH) rival blockchain built for scalability.
“Tether, the largest company in the digital assets industry, today announced that they will soon be launching U.S. dollar-pegged Tether tokens (‘USDT’) on the Aptos Network. This integration is part of Tether’s broader strategy to make digital currency more accessible and useful globally, capitalizing on Aptos’ advanced blockchain technology and exceptional speed and scalability…
Recent data highlights significant ecosystem growth; average daily active users increased from 96K in January to 170K in July of 2024. Additionally, a record-breaking 157 million transactions were processed in a single day in May 2024.”
Aptos utilizes a Proof-of-Stake (PoS) consensus mechanism, in which validators stake their APT tokens to secure the network. The blockchain processes transactions in parallel, aiming to enhance efficiency and speed.
According to the announcement, USDT gas fees on Aptos will cost less than a penny.
Says Bashar Lazaar, Head of Grants & Ecosystem at Aptos Foundation, of the new partnership:
“We’re building a strong, global, and institution-grade DeFi and payments ecosystem that values speed, decentralization, and interoperability while leveraging Move on Aptos to make it all work.
The launch of USDT on Aptos accelerates the availability and utility of real-world value for institutions, Web3 builders, and regular people worldwide.”
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Stablecoin Issuer Tether Announces Launch of USDT on Aptos (APT) Network appeared first on The Daily Hodl.
