Tether Launches USDT Stablecoin On Kusama’s Statemine Parachain

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Teth­er has launched the Teth­er sta­ble­coin (USDT) on the Kusama net­work. Teth­er will trade under asset ID 1984 and pow­er trans­ac­tions on Kusama’s Statem­ine parachain. Kusama’s first parachain, Statem­ine, enables the deploy­ment of assets such as tok­enized art­work and sta­ble­coins. The low­er costs and faster trans­ac­tions offered by Statem­ine make it a bet­ter option for users. Also, there will be enhanced blockchain secu­ri­ty, scal­a­bil­i­ty, and interoperability.

With Teth­er tokens now with­in the Kusama ecosys­tem, users can access one of the largest and most trans­par­ent options avail­able in the wider cryp­tocur­ren­cy ecosys­tem. In addi­tion, the USDT on Kusama will let devel­op­ers build and dis­trib­ute trust­less apps across chains, com­mu­ni­ties and net­works. Also, because of its com­mit­ment to mul­ti-chain acces­si­bil­i­ty, which allows any­body to cre­ate any­where, con­sumers will have a smooth inter­op­er­a­ble experience.

Teth­er tokens enable access to the largest and most trans­par­ent sta­ble­coin option in the wider cryp­tocur­ren­cy ecosys­tem for decen­tral­ized apps requir­ing sta­ble­coins that run across sev­er­al net­works. By join­ing Kusama, USDT is now on ten blockchain net­works. The oth­ers include Ethereum, Stan­dard Ledger Pro­to­col, Solana, Liq­uid Net­work, Algo­rand, EOS, Omni, and Tron.

“We’re excit­ed to launch USD₮ on Kusama, offer­ing its com­mu­ni­ty access to the most liq­uid, sta­ble, and trust­ed sta­ble­coin in the dig­i­tal token space,” said Pao­lo Ardoino, CTO at Tether.

About Tether (USDT)

Cre­at­ed in 2014, Teth­er (USDT) is the pre­em­i­nent sta­ble­coin with a mar­ket cap­i­tal­iza­tion of $82 bil­lion. This means that as off this writ­ing, it is the third-largest cryp­to token after Bit­coin and Ethereum. Notably, its val­u­a­tion is larg­er than that of all rival sta­ble­coins com­bined. Also, Teth­er com­bines the advan­tages of both dig­i­tal and tra­di­tion­al cur­ren­cies, name­ly instant trans­ac­tions and price stability.

About Kusama

Polka­dot cre­ator and for­mer Ethereum CTO Gavin Wood found­ed Kusama in 2019. It is a scal­able net­work of blockchains that may be used for var­i­ous appli­ca­tions. Its code­base is sub­stan­tial­ly the same as Polkadot’s. It pri­mar­i­ly serves as an exper­i­men­tal plat­form for those who want to explore launch­ing their full projects on Kusama or Polkadot.



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