Tether will launch its stablecoin (USDT) on the NEAR protocol. With this, the cryptocurrency will circulate on a total of twelve different blockchains.
According to a press release shared with CryptoPotato, The NEAR protocol will be the next to adopt the first stablecoin by means of total market capitalization – USDT.
- Commenting on the case, Paolo Ardoino, the CTO of Tether, said:
We are excited to launch USDT on NEAR, giving its community access to the first, most stable and trusted stablecoin in the digital token space. […] The NEAR ecosystem has seen historic growth this year, and we believe Tether will be key to helping it continue to thrive.
- It’s also worth noting that this particular announcement comes in the midst of a major milestone for NEAR. According to a post on its official Twitter page, the protocol is now home to over 700 projects.
- As mentioned above, with this integration, USDT will circulate on a total of 12 different networks. Besides NEAR, these include Polygon, Kusama, Ethereum, Solana, Algorand, EOS, Liquid Network, Omni, Tron, and the Bitcoin Cash standard ledger protocol.
- According to Tether’s Transparency page, the company’s current USDT stands at $67.7 billion.
- Most of it is currently circulating on the Tron network – around $33 billion.
- Second in line is Ethereum – $32.3 billion USDT is circulating on the network.
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