Tether has announced that USDT is officially launched on the Avalanche network. This development was expected because Tether had announced plans to expand its stablecoin to the Avalanche blockchain months back.
USDT officially launches on Avalanche
Avalanche is one of the fastest-growing blockchain networks, with its TVL shooting up in recent months. Now, USDT will launch on Avalanche, and it will allow users on the blockchain to interact with the largest stablecoin by market cap.
According to Tether’s CTO, Paolo Ardoino, this move will allow transactions to be instantly settled on the blockchain. “We’re excited to launch USDT on Avalanche, offering its growing and vibrant community access to the most liquid, stable, and trusted stablecoin in the digital token space.”
The addition of USDT to the Avalanche blockchain will have major benefits to the network because it will allow the platform to use stablecoins across the entire system, which will be of major benefit to DeFi developers on the platform.
Tether is launching on Avalanche as this network experiences one of its most notable moments. Some of the benefits that developers building on Avalanche will enjoy include low transaction fees, faster transaction settlement, and a better platform that supports the development and hosting of Dapps.
Avalanche is one of the scalable networks in the market, and despite only launching last year, it has enjoyed major adoption, and its native token, AVAX, has experienced major price gains. The platform also supports interoperability with the Ethereum blockchain due to the Ethereum Virtual Machine (EVM).
Tether expanding to other platforms
Tether has been on a mission to expand its network in recent months. Tether’s USDT carries the highest trading volumes in the crypto charts because of its compatibility with different trading pairs.
Despite the major growth levels that this blockchain has achieved, its team is still working on more growth across different blockchains. USDT already runs on top blockchains in the sector, including Ethereum, Solana, Binance Smart Chain and others.
Tether is still planning to launch on other scalable networks in the sector, including Polkadot and Kusama. This will be a major move, as the two blockchains are launching parachain auctions.
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