Tether will be launching its stablecoin (USDT) on NEAR Protocol. With this, the cryptocurrency will be circulating on a total of twelve different blockchains.
According to a press release shared with CryptoPotato, NEAR Protocol will be the next to adopt the leading stablecoin by means of total market capitalization – USDT.
- Commenting on the matter was Paolo Ardoino, the CTO of Tether, who said:
We’re excited to launch USDT on NEAR, offering its community access to the first, most stable, and trusted stablecoin in the digital token space. […] The NEAR ecosystem has witnessed historical growth this year and we believe Tether will be essential in helping it continue to thrive.
- It’s also worth noting that this particular announcement comes amid a major milestone for NEAR. According to a post on its official Twitter page, the protocol is now home to more than 700 projects.
- As mentioned above, with this integration, USDT will be circulating on a total of 12 different networks. Besides NEAR, these include Polygon, Kusama, Ethereum, Solana, Algorand, EOS, Liquid Network, Omni, Tron, and Bitcoin Cash’s Standard Ledger Protocol.
- According to Tether’s Transparency page, the current USDT in the company amounts to a whopping $67.7 billion.
- Most of it presently circulates on Tron’s network – about $33 billion.
- Second in line is Ethereum – $32.3 billion USDT circulates on the network.