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On July 21, Tether Operations Limited (“Tether”) announced that the Tether (USDT) stablecoin is officially live on Tezos and Bitfinex. In detail, the energy-efficient and self-amending Tezos blockchain now houses one of the most popular stablecoins, Tether (USDT). Similarly, Tether (USDT) holders are now readily able to trade the stablecoin on the popular exchange Bitfinex.
In regards to the news, Tether’s Chief Technology Officer Paolo Ardoino shared his sentiments on the stablecoin now being part of the Tezos blockchain.
We’re excited to be live on Tezos, and to offer its growing and vibrant community access to the most liquid, stable, and trusted stablecoin in the digital token space.
The USDT integration on Tezos is a significant milestone for the original PoS blockchain network. Tezos has seen significant growth over the years as well as a year-over-year increase in usage. The blockchain was even listed among the largest developer ecosystems according to the annual Electrical Capital Developer Report for 2021.
With this new announcement, Tether (USDT) is now part of Tezos’s ever-growing and rapidly-expanding ecosystem. This ecosystem consists of platforms such as NFT marketplace ‘Objkt.com,’ generative art platform ‘fx(hash),’ yield farming protocol ‘Youves,’ and decentralized exchange/EVM bridge ‘Plenty’. Additionally, major brands such as Manchester United, Team Vitality, McLaren Racing, The Gap, and more are also involved with the Tezos brand.
Similarly, the announcement is in line with Tether’s (USDT) claims of dedication to pioneering collaboration and interoperability within the growing digital asset space. With this decision, Tether is still on track with its efforts to be at the forefront of the biggest leap forward in the financial industry.
At the same time, Tezos remains to be one of the platforms of choice for many brands and institutions seeking to enter the world of decentralized finance and Web3.