Important points
Tether’s USDT will soon be available on the Aptos Network, enhancing the blockchain’s utility. Aptos hit a peak of 157 million transactions in a single day in May 2024.
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Tether announced on Monday that it will launch the USDT stablecoin on the Aptos network. The move is part of Tether’s strategy to expand the accessibility and utility of digital currencies around the world.
“The Tether team is excited to integrate and work with the Aptos ecosystem to strengthen our efforts to make digital currencies more accessible and functional,” said Paolo Ardoino, CEO of Tether. he said.
Aptos positions itself as a fast, secure, and interconnected financial transaction platform with the ultimate goal of bringing more people into the world of decentralized finance.
As stated in the announcement, Aptos has shown impressive growth in its ecosystem. Average daily active users jumped from 96,000 in January 2024 to 170,000 in July 2024. Additionally, in May 2024, a record 157 million transactions were processed in a single day.
Tether said the launch of USDT on the Aptos blockchain could help increase the attractiveness of the platform through the stability and reliability that Tether has established.
Tether will also benefit from Aptos’ advanced blockchain technology, known for its exceptional speed and scalability. Additionally, this integration will result in significantly lower gas prices, making trading economically viable for a wide range of applications.
“Aptos’ innovative technology provides a robust platform to facilitate faster and more cost-effective transactions with USDT,” Ardoino added.
Mo Shaikh, CEO of Aptos Labs, believes this partnership will accelerate Aptos’ growth and solidify its position as a high-performance blockchain platform.
“As a member of the Aptos community, we’re excited to see builders across Aptos’ huge ecosystem combine their strengths with Tether and leverage Move on Aptos to push the limits of what blockchain technology can achieve for users around the world. “I’m looking forward to it,” he said.
Bashar Lazaar, Head of Grants and Ecosystem at Aptos Foundation, said of the launch that the introduction of USDT to Aptos will strengthen the platform’s ability to process real-world value and reach a broader user base. He said he would be attracted to it.
“The launch of USDT on Aptos accelerates the availability and usability of real-world value for institutions, Web3 builders, and the general public around the world,” said Lazaar.
According to data from CoinMarketCap, USDT is the most widely used stablecoin with a market capitalization of approximately $117 billion. Stablecoins operate on several popular networks such as Solana, Ethereum, and TRON.
The upcoming launch of USDT on Aptos follows recent integrations into the Celo blockchain and The Open Network (TON), expanding blockchain coverage and enhancing options for users.
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