Stablecoin issuer Tether is all set to launch USDT on the Aptos blockchain.
The team emphasized that this integration is part of Tether’s “broader strategy” to make digital currency “more accessible and useful” to people around the world.
Elaborating on why Aptos was picked amongst other chains, the team noted via a blog post that they were looking to encash the speed and scalability that the network provides.
On its part, the Aptos ecosystem has been steadily growing. It has registered a rise in deployed contracts of late, essentially indicative of active development. Via the post, it was also emphasized that the average daily active users registered a jump from 96k in January to 170k in July this year.
Furthermore, over 157 million transactions were processed in a single day on the network in May, setting a new record.
Paolo Ardoino, the CEO of Tether, underlined that the latest development reflects the team’s commitment to make crypto assets "functional.” He added,
“Aptos’ innovative technology offers a solid platform for facilitating faster and more cost-effective transactions with USDT.”
Meanwhile, Bashar Lazaar, Head of Grants & Ecosystem at Aptos Foundation highlighted that the launch of USDT on Aptos “accelerates the availability and utility of real-world value for institutions, Web3 builders, and regular people.”
Tether has its wings spread across several ecosystems. It has been faring well on most of them.
A recent post from Token Terminal highlighted that Tether’s supply has been growing the fastest on Celo and Avalanche. As of press time, it had an outstanding supply of $230.73 million and $1.34 billion on the aforementioned chains. That marked a 37.5% and 9.3% rise in the 30-day timeframe respectively.
Even in other ecosystems like TON, Tether’s supply has been on the rise.
