June 21, 2023 — Tether Operations Limited (Tether), a company operating a blockchain-enabled platform
Tether
The company, which provides the first and most widely used stablecoin, today announced that it has launched the Tether token (“USD₮”) pegged to the U.S. dollar on Kava, a layer 1 blockchain designed for scalability and speed. announced that it would start.
Founded in 2018, the Kava network uses a cochain design that combines the flexibility of Ethereum virtual machines with the speed, low transaction fees, and interoperability of Cosmos’ software development kit, one of the largest organic networks. It stands out by being built with. Cryptocurrency ecosystem. This unique architecture allows users to take advantage of Cosmos’ “zone” functionality in the Kava protocol.
last month
Kava announced that it has successfully launched the “Kava 13” mainnet update, upgrading its infrastructure to provide superior security, scalability, functionality, and speed to its users.
“We are excited to launch USD₮ on Kava, which provides strong community access to the world’s first, most stable, most trusted, and most widely used stablecoin.” Tether said Paolo Ardoino, CTO of . “The Kava Network is a unique and widely supported blockchain with a solid four-year track record of zero security issues, and is essential to protecting USD₮ users. Together, we We aim to reimagine the future of decentralized finance and foster a robust and inclusive ecosystem that benefits users around the world.”
This announcement further solidifies Tether’s position as the most widely adopted stablecoin, pioneering the concept in the digital token space. Stablecoins currently operate on multiple networks including Ethereum, Solana, Algorand, EOS, Liquid Network, Omni, and Tron.
Important notes
This press release is not an offer to sell or a solicitation of an offer to buy USD₮. Tether Limited and Tether International Limited will sell or redeem USD₮ only in accordance with the Terms and Conditions available (as of the date of this press release) at https://tether.to/en/legal.
