Tether arrived on Tezo’s Blockchain to be part of the latest innovations

by Arthur · July 23, 2022

The famous stablecoin Tether arrived on the Tezos Blockchain after several field tests were conducted with it. USDT is reportedly looking to expand its transaction wave with its dedicated network. It is expected to completely change the Tether inventory and its exchange through the virtual market.

Crypto trading is developing in many ways, and stablecoins are not far behind. Tether is the third largest token in the market according to CoinMarketCap, and the wave of adoption is increasing daily. Likewise, Stablecoin will begin to be available on the Bitfinex Exchange.

USDT advances in the crypto market

The Tether initiation in the Tezos Blockchain shows how stablecoins are advancing through the virtual market. This arrangement of 1:1 parity with the US dollar has become one of the most important worldwide and does not plan to reduce its potential.

USDT, which TETHER Company created, may not have thought it would go this far in the early days of starting the crypto market. But over time, it managed to position itself among the preferred tokens, dominating other stablecoins such as BUSD from Binance Exchange, DAI, USDC and TrueUSD.

According to the company’s Chief Technology Officer, Ardoino Paolo, this new partnership with Tezos Blockchain will allow the community to grow so that everyone can use the most reliable Stablecoin. Ardoino did not mention the project with Tezos, but it is believed to be large and benefit both companies.

Tether expansion together with Tezos

The Tether company has grown incredibly over the past year. Perhaps one of the most attractive things is that both companies have innovations. This joint project will also enable the promotion of DeFi projects and Web3 network schemes.

For Tether, it is also convenient to join Tezo’s Blockchain, knowing that the scheme has developed rapidly in recent months. Currently, the XTZ network is a priority in NFT trading; it has good support for Defi Apps, offers decentralized exchange, and has Ethereum Virtual Machine connections, among other things. Blockchain also has several participants of interest, such as the Vitality team, The Gap and Manchester United.

With more than five years after its establishment, USDT has proven to be a reliable stable coin, so it is expected that the new projects will be received kindly. It is a symbol that has not lost its parity with the dollar and has now become the most used option by crypto enthusiasts while virtual trading is experiencing its bearish streak. This project looks forward to seeing its progress in the coming months before the end of 2022.