Friday, July 30, 2021
Home Crypto News Market Tether USDT Stablecoin Coming on Polkadot and Kusama

Tether USDT Stablecoin Coming on Polkadot and Kusama

- Advertisement -

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.

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

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.

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.

Merchant token ico

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.

- Advertisement -
Mark Brennan
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Michael Saylor “Bitcoin Is Digital Real Estate And Is Now Held By More Than 114 Million People, Making It The Most Widely Held Financial...

Microstrategy CEO Michael Saylor always shows that he is a faithful supporter of Bitcoin. Microstrategy currently holds 105,085 BTC. Michael Saylor is among the...

Bitpay Adds Support For Litecoin And Newegg Becomes The First Merchant To Accept LTC Through Bitpay

BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, today announced support for Litecoin in the BitPay Wallet app. Consumers can buy, store and...

Yoroi Wallet To Release Dapp Connector That Will Allow Interactions Between Users And Dapps On Cardano Blockchain

Cardano (ADA) smart contracts are coming soon and so is its infrastructure advancing. window.coinzilla_display = window.coinzilla_display ||...

Ethernity Chain to Drop NFT of NAS’s Performance in South Africa on the 20th Anniversary of the end of Apartheid

Johannesburg, South Africa, 29th July, 2021, Ethernity Chain is proud to announce another unique NFT collection is coming to its ecosystem. This aNFT (Authenticated...

Wall Street Bitcoin Adoption Continues As State Street The Second-Oldest Continually Operating United States Bank To Offer Crypto Services

State Street Corporation, an American financial services and bank holding company, headquartered in Boston with operations all over the globe to Offer Crypto Services...

57,000 Bitcoin Left Crypto Exchanges In 24 Hours Showing Bullish Sentiments Along With 465,000 Bitcoins Transferred Between Coinbase And Unknown Wallets

BTC saw the largest outflow of funds in one day from crypto exchanges. Nearly 57,000 bitcoins were left crypto exchanges.  ...

According To PayPal CEO, Paypal Crypto Super App Is Code Complete And Will Launch Soon

PayPal, World Top payment provider company, has stated that its users will not need to wait longer for great crypto functionalities app coming soon.

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.

follow us in feedly