Tether Expands USDT to the Polkadot Blockchain

Top stablecoin Tether (USDT) has recently made headlines by extending its development to the Polkadot blockchain. This move once again draws significant attention to the highly competitive stablecoin sector.

Tether announced via its official Twitter that it will now support a native token on the Polkadot blockchain.

In a blog post about the announcement, Tether described this as a significant milestone, enhancing the stablecoin's presence across decentralized ecosystems. Tether’s CTO, Paolo Ardoino, commented:

“We are thrilled with this move, as it allows the Polkadot community to access one of the highest liquidity stablecoins in the market. Polkadot is experiencing strong growth, and we believe USDT’s presence will further accelerate that progress.”

With the integration into Polkadot, Tether will now be available across a total of 11 DeFi ecosystems, including well-known names such as Ethereum, Avalanche, Kusama, and Solana.

This expansion is seen as a strategic move to broaden the influence of the leading stablecoin and increase pressure on existing stablecoins within the Polkadot network, such as aUSD, which has faced recent technical issues.

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In related news, BUSD has also recently launched native tokens on two new blockchains: Avalanche and Polygon.

Read more: Binance Expands BUSD Influence to Avalanche and Polygon

Given these recent developments, the stablecoin market is likely to witness many unexpected twists as players continue to push forward with aggressive expansion strategies.