Tether, the company behind the largest stablecoin, has announced that USDT will soon be launched on the Aptos blockchain. In this way, USDT will become more accessible and useful globally.
Tether and the launch of the stablecoin USDT on the Aptos blockchain
Tether has announced that the largest stablecoin by market cap USDT will be launched on the Aptos blockchain.
The new integration will make Tether (USDT) more accessible and useful globally, also leveraging the advanced blockchain technology of Aptos.
And indeed, Aptos Network is renowned for making transactions with unprecedented speed and scalability. Not only that, the ecosystem has grown significantly with an average of daily active users increasing from 96,000 in January to 170,000 in July 2024.
Not only that, in May 2024, 157 million record transactions were processed in a single day.
Transferring USDT on the Aptos Blockchain will also mean paying extremely low gas fees, costing only a fraction of a cent. This economic advantage could make USDT more accessible to a wider range of use cases, from microtransactions to large-scale business operations.
Tether: the stablecoin USDT will soon be on Aptos Blockchain
In the Tether house, the new integration was welcomed with enthusiasm. On this subject, Paolo Ardoino, CEO of Tether, said:
“The Tether team is excited to integrate and collaborate with the Aptos ecosystem, strengthening our commitment to making digital currencies more accessible and functional. Aptos’ innovative technology offers a solid platform to facilitate faster and more convenient transactions with USD₮. This collaboration underscores our ongoing efforts to be leaders in innovation and support our users with stable and reliable financial tools.”
Also Mo Shaikh, CEO of Aptos Labs, commented as follows:
“The integration of Tether’s USD₮ marks a significant milestone for Aptos, which has contributed to providing the technical expertise to facilitate the integration. This collaboration will leverage Aptos’ ability to process enormous volumes and rapidly grow its user base.” As a member of the Aptos community, I look forward to seeing the builders of Aptos’ vast ecosystem join forces with Tether and leverage Move on Aptos to push the boundaries of what blockchain technology can achieve for users globally.”
The price of APTOS and recent collaborations
At the time of writing, Aptos (APTOS) is in 27th place by market cap. The price of APTOS is $5.87, in a dump of -6.7% over the last seven days, and -16% compared to a month ago. A downward trend that, however, is affecting all the main cryptocurrencies.
While the reaction of investors to the USDT news on Aptos Blockchain will be seen, recently, Aptos has made other important partnerships.
And indeed, last month, Aptos formed a partnership with Nansen, the popular provider of on-chain analysis and insights. In this way, Nansen’s analysis and data will be brought into the Aptos ecosystem.
The objective is to provide Aptos users with the necessary analyses to promote their growth.
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