Tether has announced the launch of its native token USDT on the Polkadot Network in a Friday statement. Polkadot is a blockchain platform that is decentralized and open source. It is a full-stack Web3 ecosystem that allows for cross-chain registries and computation. Furthermore, with the addition of the stablecoin, the blockchain platform expands its presence in decentralized ecosystems. Concurrently, the inclusion of Tether will mitigate “potential adverse effects associated with market volatility.”
Acala Network’s chief growth officer, Dan Reecer, tweeted about the development: “USDT can now be natively minted on Polkadot.” “Appchains like Acala Network and centrifuge, and general-purpose EVM chains like Moonbeam Network and Astar Network can now integrate native USDT into their parachain and/or DApp ecosystem alongside substrate-native Acala Stablecoin, aUSD.”
According to the update on its blog, Tether users will also be able to use the Polkadot Relay Chain to exchange information and USDT transactions in a secure and trustless manner.
“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,” said Paolo Ardoino, CTO at Tether. He adds, “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.”
According to the update on its blog, Tether users will also be able to use the Polkadot Relay Chain to exchange information and USDT transactions in a secure and trustless manner.
Tether Stablecoin is now available on eleven different blockchain networks. Following the addition of Polkadot on Friday, the company plans to continue expanding beyond that number.
