Tether is expanding its reach by launching its US dollar-pegged stablecoin, USDT, on the Aptos blockchain. Announced on August 19, 2024, this move introduces the USD₮ token to the Aptos Network.
Tether recognized Aptos Network for its advanced blockchain technology, exceptional speed, and scalability. With Aptos’ capabilities, users can expect extremely low gas fees, making transactions more economical and viable for a broader range of use cases. This provides an ideal platform for Tether’s USD₮ token.
The Aptos blockchain has seen impressive growth, with daily active users soaring since January 2024. Aptos also processed a record-breaking number of transactions in a single day in May.
According to Tether CEO Paolo Ardoino, the integration of USD₮ on the Aptos blockchain marks a major step in making digital currencies more accessible and functional.
Aptos Labs CEO Mo Shaikh highlighted that this collaboration leverages Aptos’ capacity to handle massive volumes and rapidly expand its user base.
Bashar Lazaar, Head of Grants & Ecosystem at Aptos Foundation, noted that the launch accelerates the availability and utility of real-world value for institutions, Web3 builders, and everyday users globally.
Tether has announced that Aptos is developing a global DeFi and payments ecosystem with a strong emphasis on speed, decentralization, and interoperability.
In mid-June, Arthur Hayes said he believed Aptos will flp Solana. He also predicted there will be a Dogecoin ETF.
By leveraging the Move programming language, Aptos aims to build a system that is easily accessible to institutions, developers, and everyday users.
The introduction of USD₮ on the Aptos network marks a significant milestone in this vision, as it brings tangible value to the platform and propels its growth.
The launch of USD₮ on the Aptos network is anticipated to enhance the availability and practical use of real-world value for institutions, Web3 builders, and individuals globally.
This strategic partnership between Tether and Aptos is designed to increase the utility and accessibility of USD₮, making it more attractive to users from diverse economic backgrounds.
Through this collaboration, both entities aim to broaden the appeal and functionality of USD₮ within the evolving digital economy.
