Tether Launches on Tezos Smart Contract Network

| Updated
by Benjamin Godfrey · 3 min read
Tether Launches on Tezos Smart Contract Network
Photo: Unsplash

Tezos is already home to many DApps and platforms that are offering unique solutions to Web3.0 users.

Tether Operations Limited, the blockchain startup behind the world’s largest stablecoin, USDT has announced the launch of the token on the Tezos protocol. As contained in a Press Release shared with Coinspeaker, the integration with Tezos is a testament to the growing momentum of the largest stablecoin by market capitalization.

With thousands of Layer-1 and 2 blockchain protocols around today, Tether is always exploring avenues to expand the interoperability of the USDT stablecoin for easy accessibility across the Web3.0 ecosystem. The launch of Tezos is a huge milestone for the smart contract protocol as it brings the most traded stablecoin to its users.

As a Proof-of-Stake (PoS) network, Tezos is known as one of the most energy-efficient protocols today and it has quite a number of features that makes it one of the most desired blockchain networks for brands. The protocol can undergo a self-upgrade without disrupting network activities, and it is easily scalable.

With the launch of Tether’s USDT on Tezos, the stablecoin can easily be accessed by users on one of the most functional blockchain networks with plans to incorporate in its future upgrades features like enshrined optimistic rollups. These proposed optimistic rollups will open the way for a higher throughput Layer 2 solutions for EVM and WASM virtual machines with all computation made verifiable, enshrined on the Tezos blockchain.

With USDT users constantly looking for alternatives to move funds, the launch of the stablecoin on Tezos will offer a more seamless gateway where they can further enjoy speed and the low cost of transactions.

“We’re excited to be live on Tezos, and to offer its growing and vibrant community access to the most liquid, stable, and trusted stablecoin in the digital token space,” said Paolo Ardoino, CTO at Tether.

Tether to Bring USDT Stablecoin Liquidity to Tezos Ecosystem

There are many defined advantages that the Tether USDT stablecoin integration with Tezos will bring, and one of these is the enhanced liquidity that will be introduced to the Tezos ecosystem. Already, USDT is the most traded digital currency amongst its peers and it boasts of a very dedicated community that will typically be onboarded into the Tezos ecosystem.

Tezos is already home to many DApps and platforms that are offering unique solutions to Web3.0 users. Some of these outfits include top five NFT marketplace Objkt.com, leading generative art platform fx(hash), DeFi applications like yield farming protocol Youves and decentralized exchange, and EVM bridge Plenty.

Tezos is also a major brand partner to the renowned English Premier League side, Manchester United, and is on track to lead the team’s push into the Web3.0 space. As two protocols dedicated to the advancement of blockchain technology and Web3.0, the duo of Tezos and Tether are notably pushing forth the boundaries of technological capabilities across the board.

Altcoin News, Blockchain News, Cryptocurrency News, News
Benjamin Godfrey

Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.

Related Articles