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Tether deploys new USDT token on the Tezos blockchain

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Leading cryptocurrency stablecoin Tether has introduced the launch of a brand new asset, Tether (USDT) tokens constructed on the Tezos blockchain, and with the ambition of increasing their digital footprint throughout the digital funds and decentralized finance (DeFi) sector.

According to the press launch, “USDT on Tezos will energy revolutionary purposes throughout funds, DeFi, and extra.” In dialog with a Tether consultant, better context was supplied as to the meant utility of Tether tokens:

“Tether tokens are not an investment but a utility for engaging in internet commerce, combating volatility, and providing a safe haven for remittances. Tether tokens can be securely stored, sent, and received across the blockchain and are redeemable for the underlying asset, subject to the terms of service and fee schedule.”

The consultant continued onto reveal the names of the 12 blockchains, together with Tezos, on which the asset will develop into accessible:

Related: Tether’s reported financial institution companion Capital Union shares its crypto technique

“Tether currently supports transfers on a diverse and growing list of blockchains including Solana, Ethereum, Kusama, Avalanche, Polkadot, Algorand, EOS, Liquid Network, Omni, TRON and Bitcoin Cash’s Standard Ledger Protocol.”

CTO at Tether, Paolo Ardoino, spoke extremely of the launch, anticipating that it’ll assist Tether’s development throughout the approaching years.

“Tezos is coming fast onto the scene and we believe that this integration will be essential to its long-term growth.”