Tether, a leading stablecoin, is launching its USDT token on the Celo blockchain network. This opens another network to USDT’s variety of existing networks, which are Ethereum, Solana, and Polygon.
The date for the launch will be revealed some other time, however, a Tether official communicated that it’s happening already. Celo, founded in 2020, tries consistently to give users mobile payments which is done through integrated phone numbers with crypto wallets as well as the low transaction fees.
Another proposal is USDT establishment as a gas currency in the Celo network for the completion of transactions on dApps in particular. This report is released as the Tether’s USDT supply in circulation with over 102 billion, and the total supply with more than 108 billion when taking into account authorized but unissued tokens.
Rene Reinsberg sees the USDT (USD Coin) of Celo as a positive development, which among other things, enriches the payment variation as well as the global users’ application of stablecoins. Celo will be able to boost and add to its stable coin by integrating tether. This will be beneficial by using tether in various financial activities like remittance and lending.
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