Tether’s stablecoin, USDT, has been launched on the Polkadot network.
USDT, the largest stablecoin with a market cap of approximately $67.5 billion, according to data from The Block, can now be used on the Polkadot network.
USDT Expands to Polkadot
With Tether’s latest announcement, the largest stablecoin has expanded to the Polkadot network. Besides Polkadot, the asset is supported on networks such as Ethereum, Solana, Algorand, EOS, Liquid Network, Omni, and Tron.
Tether’s chief technology officer, Paolo Ardoino, said:
“We are delighted to launch USDT on Polkadot, providing its community with access to the most liquid, stable and reliable stablecoin in the digital asset space.
Polkadot is in a period of growth this year and we believe their development will continue with the addition of Tether.”
The launch of USDT on the Polkadot network will allow developers on the network to integrate the asset into DeFi applications. Parachains is a modular blockchain that runs in parallel in the Polkadot ecosystem and is secured by a central relay chain.
The Polkadot network’s native asset, DOT, is trading at $6.45 at the time of writing, according to data from CoinMarketCap.
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