USD₮ Live on Polkadot
USD₮ live on Polkadot! Tether Operations Limited (“Tether”), the company operating the blockchain-enabled platform Tether that powers the largest stablecoin by market capitalization, announced today the launch of Tether tokens (“USD₮”) on Polkadot, a decentralized, open-source blockchain platform.
Polkadot is a full-stack Web3 ecosystem built for the multichain future. It is a true multi-chain application environment where activities such as cross-chain registries and cross-chain computation are possible. Polkadot facilitates independent blockchains to exchange information and transactions in a secure and trustless way via the Polkadot Relay Chain, making it easier to create and connect decentralized applications, services, and institutions.
The addition of Tether to the Polkadot ecosystem is another milestone from the industry’s leading stablecoin as it continues to increase its presence in decentralized ecosystems. It will alleviate the potential adverse effects associated with market volatility. Provide a stable currency to generate yield, and move in and out of the network.
“We’re delighted to launch USD₮ on Polkadot, offering its community access to the most liquid, stable, and trusted stablecoin in the digital token space. 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.” — Paolo Ardoino, CTO at Tether
The launch of USD₮ on Polkadot further highlights Tether’s dedication to pioneering collaboration and interoperability within the growing digital asset space. The stablecoin is now live on a total of eleven networks and counting. It includes Avalanche, Kusama, Ethereum, Solana, Algorand, EOS, Liquid Network, Omni, Tron, NEAR, and Bitcoin Cash’s Standard Ledger Protocol.
ABOUT Tether
Tether was founded by a group of Bitcoin enthusiasts and early adopters. Passionate about facilitating the use of fiat currencies in a digital manner. In 2014, the company launched Tether a blockchain-enabled platform. Aimed at disrupting the conventional financial system with a more modern approach to money.
ABOUT Polkadot
Polkadot is a next-generation blockchain protocol connecting multiple specialized blockchains into one unified network. Designed as part of a broad vision for a web that returns control to individuals over internet monopolies. Polkadot builds on the revolutionary promise of previous blockchain networks while offering several fundamental advantages.
