Following the institution launching a fiat-pegged tied to the worth of the Mexican peso, Tether, the stablecoin issuer has announced the steadfast has launched tether tokens connected the Polygon network. The Polygon integration follows the stablecoin being added to the Avalanche and Kusama blockchain networks.
Tether Joins the Polygon Blockchain Ecosystem
- The largest stablecoin by marketplace capitalization, tether (USDT), is present supported connected the Polygon blockchain (formally called Matic). USDT’s marketplace valuation contiguous is $72.6 cardinal and the stablecoin commercialized measurement is $59.15 cardinal retired of the $106.34 cardinal successful planetary commercialized measurement connected Friday.
- In summation to Polygon, USDT is supported connected the Omni Layer blockchain, Ethereum, Tron, EOS, Liquid, Algorand, Solana, Bitcoin Cash (SLP), Kusama, and Avalanche. Furthermore, €195,998,829 worthy of EURT, ¥20,503,468 worthy of CHNT, and 226,289 XAUT (tether gold) person been issued by the firm.
- Expanding to the Polygon network’s furniture 2 (L2) scaling solution connected apical of the Ethereum blockchain volition supply tether (USDT) users with cheaper transportation fees. Polygon has much than 19,000 decentralized applications (dapps) and the network’s autochthonal token MATIC is the 21st largest by marketplace valuation.
- “We’re excited to motorboat USDT connected Polygon, offering its assemblage entree to the astir liquid, stable, and trusted stablecoin successful the integer token space,” Paolo Ardoino, the CTO astatine Tether said successful a connection sent to Bitcoin.com News. “The Polygon ecosystem has witnessed humanities maturation this twelvemonth and we judge Tether volition beryllium indispensable successful helping it proceed to thrive,” the Tether CTO added.
- The Polygon squad confirmed the motorboat connected Friday erstwhile the authoritative Twitter leafage tweeted: “Tether USDT launches connected Polygon.”
- In summation to tether (USDT) launching connected Polygon, Polygon Studios CEO Ryan Wyatt explained that the squad had enactment unneurotic a multi-million dollar money to assistance Terra blockchain developers migrate to Polygon.
- Tether says the Polygon announcement connected Friday, “further solidifies Tether’s presumption arsenic the astir wide adopted stablecoin.”
- The quality of tether (USDT) being implemented connected the Polygon web follows the token’s marketplace capitalization losing $10.4 cardinal since May 10, 2022. On that day, USDT’s marketplace valuation was $83 cardinal and contiguous it’s astir $72.6 billion.
- Furthermore, Tether launched a fiat-pegged token tied to the Mexican peso called MXNT connected May 26, and MXNT tokens volition beryllium disposable connected Solana, Ethereum, and Polygon arsenic well.
Tags successful this story
11 Blockchains, 11 Networks, CHNT, crypto economy, CTO of Tether, Digital Currencies, EURT, Fiat Tokens, fiat-pegged tokens, L2, Layer two, matic, MXNT, Paolo Ardoino, Peso-pegged stablecoin, Polygon, Polygon (MATIC), Polygon Network, Polygon USDT, Scaling, Stablecoins, Tether, Tether Gold, Tether pesos, USDT
What bash you deliberation astir tether (USDT) launching connected the Polygon network? Let america cognize what you deliberation astir this taxable successful the comments conception below.
Jamie Redman is the News Lead astatine Bitcoin.com News and a fiscal tech writer surviving successful Florida. Redman has been an progressive subordinate of the cryptocurrency assemblage since 2011. He has a passionateness for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written much than 5,000 articles for Bitcoin.com News astir the disruptive protocols emerging today.
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