Polkadot Now Permits Tether (USDT) to be Minted on Its Blockchain – U.Immediately

Tether, the company powering the blockchain-enabled platform Tether.to, which operates the largest stablecoin and third-largest cryptocurrency by market cap, today announced the launch of Tether (USDT) on Polkadot. The launch would allow Tether to move in and out of the Polkadot network.

Launched on Polkadot, Tether offers a stable currency to move in and out of the network.

“Polkadot is on a growth and evolutionary path this year and we believe the addition of Tether will be critical to its continued success.” – @paoloardoino, CTO at @Tether_to. https://t.co/3wZ55Bk6u7

— Polkadot (@Polkadot) September 23, 2022

Dan Reecer, Chief Growth Officer at Acala Network, tweeted about the development: “USDT can now be minted natively on Polkadot. Appchains like Acala Network and Centrifuge, as well as general-purpose EVM chains like Moonbeam Network and Astar Network, can now integrate native USDT into their parachain and/or DApp ecosystem alongside the substrate-native Acala stablecoin, aUSD.”

Tether, the largest stablecoin on the market, continues to expand its presence in decentralized ecosystems with the addition of the Polkadot ecosystem. A multi-chain application environment is represented by Polkadot, a full-stack Web3 ecosystem that makes cross-chain registrations and cross-chain calculations conceivable. Through the Polkadot Relay Chain, Polkadot enables separate blockchains to communicate data and transactions, simplifying the development of decentralized apps, services, and institutions.

To sue

The USDT stablecoin is now live on a total of 11 networks, including Avalanche, Kusama, Ethereum, Solana, Algorand, EOS, Liquid Network, Omni, Tron, NEAR, and Bitcoin Cash’s standard ledger protocol.

TOP BLOCKCHAIN ​​PLATFORMS BY WEEKLY DEVELOPMENT ACTIVITIES

@Polkadot: 2658.57
🥈 #Ethereum: 177.07
🥉 #Solana: 99.07
4. #Algorand: 71.07
5. #Bitcoins: 50
6. #near: 43.79
7. #Avalanche: 31.79
8. #Tron: 7.93
9. #Phantom: 1.71
10. #BNB chain: 0

Source: @santimentfeed pic.twitter.com/MmRY24NeJA

— Polkadot Insider (@PolkadotInsider) September 18, 2022

Over the past week, on-chain analytics firm Santiment has reported Polkadot as the top blockchain in terms of weekly development activity. This remains a major achievement for the network as it continues to thrive by introducing upgrades on a regular basis. Despite positive developments, the token continued to suffer from the ongoing bear market conditions.

At the time of publication, DOT, the native asset of the Polkadot blockchain, was changing hands at $6.30, a minor drop over the past 24 hours. Polkadot is the 11th largest cryptocurrency with a market cap of $7 billion.


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