The famous stablecoin Tether has arrived on the Tezos blockchain after several field tests were carried out with it. USDT is reportedly trying to expand its trading wave with a dedicated network. It is expected to completely transform the participation of Tether and its exchange across virtual markets.
Crypto trading is thriving in many ways, and stablecoins are not far behind. Tether is the third largest token in the market according to CoinMarketCap and its wave of adoption is growing every day. Stablecoins are also offered on the Bitfinex exchange.
USDT thrives on the crypto market
The launch of Tether on the Tezos blockchain demonstrates the stablecoin’s performance in the virtual market. This scheme, with a 1:1 parity against the US dollar, has become one of the most important in the world and has no plans to reduce its potential.
Developed by the company TETHER, USDT probably didn’t expect to get this far in the early days of crypto market adoption. But over time, it managed to position itself among the tokens of choice and dominate other stablecoins such as BUSD, DAI, USDC, and TrueUSD Binance Exchange.
According to the company’s Chief Technology Officer, Ardoino Paolo, this new partnership with the Tezo blockchain will allow the community to grow so that everyone can use the most reliable stablecoin. Ardoino did not call the project Tezos, but it is believed to be large and profitable for both companies.
Tether expansion with Tezos
The Tether company has grown tremendously over the past year. Perhaps one of the most interesting points is that both companies are innovative. This joint project also makes it possible to promote the Defi project and the Web3 network scheme.
It is also convenient for Tether to join the Tezos blockchain, knowing that the scheme has made rapid progress over the past few months. The XTZ network is currently a priority in NFT trading; It has good support for Defi Apps, offers a decentralized exchange and has connections to Ethereum Virtual Machines, among other things. Blockchain also has some interesting participants, such as the Vitality team, The Gap, and Manchester United.
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With more than five years since its inception, USDT has proven to be a reliable stablecoin, so its new projects are expected to be well received. It is a token that has not lost its balance with the dollar and has now become the most used alternative by crypto enthusiasts as virtual trading is seeing a downward trend. The project is expected to move forward in the coming months before the end of 2022.