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Tether (USDT) now on Polkadot blockchain

World’s largest stablecoin and third largest cryptocurrency, Tether (USDT), has been launched on Polkadot, adding to a dozen other blockchain networks that it’s currently running on. Tether, with a current market cap of almost $70 billion, is running on a list of blockchain networks and has added to this list, describing Polkadot as a “full-stack Web 3 ecosystem built for the multi-chain future.”

Tether (USDT) now on Polkadot blockchain
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Tether has long ago aimed to  increase its presence in decentralized finance (DeFi) ecosystems and now this is an act toward the achievement of this purpose. It was only last week that we heard the news of Tether going live on the ‘Near’ protocol, alongside 11 other blockchain networks that it was running on, including Polygon, Kusama, Ethereum, Omni and others.Tether firm has announced that the expansion to Polkadot is another step towards increasing its presence in decentralized ecosystems. 

Related: USDT price

As said by the company itself, due to Tether being a “multi-chain application environment where activities such as cross-chain registries and cross-chain computation are possible,” it is possible for the asset to move to numerous blockchain networks at the same time. 

The company’s chief technology officer, Paolo Adrino, has stated in this case:

“We’re delighted to launch USDT on Polkadot, offering its community access to the most liquid, stable, and trusted stablecoin in the digital token space. Polkadot is on a trajectory of growth and evolution this year, and we believe Tether’s addition will be essential in helping it continue to thrive.”

polkadot tweet

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Tether (USDT) is a pioneer of the crypto industry in terms of functionality and market cap. On the other hand, Polkadot is a leading option in terms of development and weekly activity. Reasons being brought, the two are a good match and Polkadot is a great feat for Tether since it continues to announce upgrades on a regular basis.

See also: Polkadot (DOT) price

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