According to a statement on August 19, Tether announced that it will expand its USDT stablecoin to Aptos, a layer 1 blockchain network.
This move increases USDT’s presence across various blockchain networks including Ethereum, Tron, Avalanche, Celo, and Solana. However, the majority of Tether’s $116 billion supply is still concentrated in TRON and Ethereum, accounting for 88% of the total supply, according to DeFirama data.
Why Aptos?
Tether explained that by integrating USDT into the Aptos blockchain, gas fees will be so low that it will cost less than a penny. This makes transactions more cost-effective, benefiting microtransactions and large-scale enterprise operations.
The stablecoin issuer also cited Aptos’ strong developer community and thriving ecosystem as key factors in its decision.
Tether CEO Paolo Ardoino praised Aptos’ innovative technology, saying it provides a solid platform for faster and more cost-effective USDT trading. He emphasized that this partnership is consistent with Tether’s commitment to innovation while providing users with stable and reliable financial tools.
Co-founded by Mo Shaikh and Avery Ching, Aptos aims to provide a scalable and user-friendly infrastructure for decentralized apps and smart contracts. Both founders were previously involved in Meta’s Diem blockchain project.
Recently, Aptos saw a spike in activity with the release of the click-and-earn game Tapos 2. On August 15, the network processed more than 326 million transactions, reaching a peak of more than 12,000 transactions per second.
DeFi opportunities
Market observers have suggested that this move will inject new energy into Aptos’ DeFi sector.
Yield aggregator platform VibrantX Finance noted that the consolidation could increase liquidity in the Aptos ecosystem. This will facilitate smoother transactions, attract new users and developers, and increase capital inflows.
He further added:
“USDT, a widely recognized and trusted stablecoin, allows more users to easily participate in DeFi activities on Aptos, including vividx.finance.As the leading stablecoin, USDT can also bridge the gap between Aptos and other blockchains, expanding the possibilities of DeFi.”
According to DeFillama data, Aptos is the 14th largest DeFi network with $730 million in total assets locked.
This news is notable considering Tether recently removed native support for EOS and Alogrand earlier this year as the focus shifts to “strengthening community-driven blockchain support.”
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