Near Protocol Supports Tether USDT, Stablecoin Is Now Hosted on 14 Blockchain Networks

On Monday, the stablecoin issuer Tether Operations Limited announced that the stablecoin tether is present supported by the Near blockchain network. Following a fig of caller implementations, Near volition beryllium the 14th blockchain web that hosts the largest stablecoin by marketplace capitalization.

Tether Connects With the Near Protocol

Tether has revealed that tether (USDT) is present supported by the Near (NEAR) network, a astute declaration blockchain strategy launched successful April 2020. Near’s marketplace valuation makes it the tenth largest astute declaration token by marketplace cap, and the 25th retired of each 12,905 cryptocurrencies successful existence. On September 12, Marieke Flament, CEO of Near Foundation, said USDT enactment connected the Near blockchain volition play a captious relation successful decentralized concern (defi).

“We champion initiatives that tin bring greater stableness to the defi ecosystem and assistance america beforehand the wide adoption of Web3,” Flament said successful a connection connected Monday. “We look guardant to seeing what Tether volition execute with the motorboat of USDT connected Near Network and the captious relation it volition play successful shaping the aboriginal of concern and the integer economy.”

Near blockchain enactment volition marque it the 14th blockchain that hosts tether (USDT) stablecoins. Out of the $153 billion successful stablecoin worth today, USDT is the largest with a marketplace valuation of astir $67.7 billion. Tether’s marketplace headdress is the 3rd largest retired of today’s 12,905 cryptos and it accrued 1.1% during the past 30 days. Tether’s $67.7 cardinal marketplace headdress represents 6.043% of the full $1.12 trillion crypto economy. During the past 24 hours, USDT has seen $49.10 cardinal successful planetary commercialized volume, outpacing bitcoin’s (BTC) 24-hour planetary commercialized volume.

In summation to Near, tether (USDT) is besides hosted connected Algorand, Avalanche, Bitcoin Cash’s Simple Ledger Protocol (SLP), Ethereum, EOS, Kusama, Liquid Network, Omni, Polygon, Tezos, Tron, Solana, and Statemine. Paolo Ardoino, the CTO astatine Tether, agrees with Flament’s statements and noted that adding stablecoins similar USDT volition beryllium indispensable for the blockchain’s growth.

“We’re excited to motorboat USDT connected Near, offering its assemblage entree to the first, astir stable, and trusted stablecoin successful the integer token space,” Ardoino remarked during the announcement. “The Near ecosystem has witnessed historical maturation this twelvemonth and we judge Tether volition beryllium indispensable successful helping it proceed to thrive.”

Tether has besides been branching stablecoin solutions for different fiat currencies. The institution precocious launched a Mexican peso stablecoin and a crypto plus pegged to the British lb sterling. At the extremity of August, Tether announced it had hired BDO Italia for monthly assurance reports and the institution besides noted that the stablecoin issuer decreased commercialized insubstantial holdings by 58%.

What bash you deliberation astir Near Protocol supporting the stablecoin tether? Let america cognize what you deliberation astir this taxable successful the comments conception below.