September 27, 2022

USDT Stablecoin Makes Its Debut Through Near Protocol To Gather More Presence

Tether Operations Limited, which is behind the issuance of the largest stablecoin Tether (USDT) has been constantly expanding its business.

The company wants to gain as much ground as possible within the crypto-verse. The company is now aiming to gain more prominence and popularity within the decentralized finance (DeFi) sector.

Tether Goes to Near Network

The Tether issuer has been expanding its accessibility for users on multiple blockchain networks. This time, Tether Operations Limited is aiming to gain exposure on the Near Network.

The company has announced that it has collaborated with Near Network where it aims to provide services to the users. Following their collaboration, USDT will be launched through the Near Network.

The users on the Near Network will be able to use the stablecoin without having to move to any other platform or network.

USDT is Live

The Tether team has announced that as of now, Tether is live on the Near Network. The Near Network is a blockchain platform that has been designed to operate as a smart contract-enabled protocol.

Near Network is one of the major platforms that have been launched within the decentralized finance space. The officials at Tether announced the launch of USDT on Near Network on Monday.

Major Milestone has been achieved

According to the officials at Tether, they have managed to achieve a great and major milestone by launching their stablecoin into the Near blockchain ecosystem.

By launching their stablecoin into the particular blockchain, they have remained loyal to their goal of increasing their global presence.

They have always remained committed to the expansion of their business in the decentralized finance sector. They want the decentralized finance ecosystem to become more and more adaptable for the users.

By launching the stablecoin into the Near blockchain, they will be offering high and accelerated scalability to the Near Network. Additionally, Tether will help bring the Near Network’s high volatility under control on a very large scale.

Tether Keeps Expanding its Network

After the recent launch, Near Network has become the 11th blockchain network where Tether has been listed.

Other blockchain networks that have already listed Ether include Standard Ledger Protocol for Bitcoin and Tron, Omni, Liquid Network, EOS, Algorand, Solana, Ethereum, Kusama, and Polygon.

Ethereum and Tron are known for being the largest blockchain networks in terms of accommodating/circulating the highest volume of USDT.

The Tron blockchain currently hosts $33 billion worth of USDT while the Ethereum blockchain hosts $32 billion worth of USDT.

Together, the Tron and Ethereum blockchains host over 96% of the total volume for USDT. The more USDT expands in the crypto-verse, the firmer it becomes for the investors to adopt.