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HomeCrypto NewsMarketTether USDT Stablecoin Coming on Polkadot and Kusama

Tether USDT Stablecoin Coming on Polkadot and Kusama


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Tether announced that it will launch its USDT on Polkadot and Kusama networks. Exact dates were not announced when Tether will use the Polkadot and Kusama blockchains for stable coin USDT.

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Tether currently operates on blockchains such as Ethereum, EOS, Omni, and Tron.

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Tether announced Tuesday that it will begin using Polkadot and Kusama blockchains to issue USDT. According to the block, the company will be using the Kusama network in the initial phase.

Many blockchain projects use Kusama to prepare before switching to Polkadot, as Kusama share almost the same code of Polkadot.

Likely to use statemin:

Tether plans to use parachain, called Statemint, which was designed by Parity Technologies for the stablecoins production.

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Statemint was introduced last month by Polkadot developer Parity Technologies. It would provide functionality for deploying assets such as stablecoins in the Polkadot and Kusama networks and help end-users with lower fees. Tether CTO Paolo Ardoino explained that they would wait for Statemint to be ready.

Development work for Statemint is expected to “take several months.”.

The company could start doing some test work on the Kusama network.

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Tether CTO Paolo Ardoino Said:

We also continue to look at Kusama, said Ardoino. Kusama would theoretically allow us to start experimenting with supporting Tether on parachains even before Statemint is officially live.

In total, USDT, works with with 10 different blockchains, has a total market capitalization of more than $43 billion.

Read: 5 Exciting Altcoin News To Follow This Week Plus Other Major Altcoin Updates

5th largest by market capitalization, Polkadot was trading at $44.58 at the time of writing.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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