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Tether Unveils Plan to Launch USDT on Kava Blockchain

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Wed, 21/06/2023 - 14:50
Tether Unveils Plan to Launch USDT on Kava Blockchain
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Stablecoin issuer Tether Holdings Limited is expanding its reach as it has announced plans to launch the USDT token on the Kava Blockchain. By leveraging the speed and scalability associated with the Kava Blockchain, USDT will gain bigger and better coverage and reach more users within the Web3.0 ecosystem.

While USDT was primarily launched on the Ethereum blockchain, it has expanded to other mainstream Layer 1 and Layer 2 protocols over the past few years. Today, users can hold the USDT stablecoin on Polkadot (DOT), Solana (SOL), Tron (TRX) and BNB Chain, among others.

Choice of Kava

The choice of Kava was based on the stellar design of the protocol as a highly functional co-chain "that combines the flexibility of the Ethereum virtual machine with the speed, low transaction fees, and interoperability of the software development kit of Cosmos – one of the largest organic ecosystems in crypto."

The debut on Kava is even more beneficial for users who place a high premium on scalability and performance.

Related

The blockchain released the Kava 13 mainnet, which introduced a significant upgrade to the security, scalability, speed and overall functionality of the protocol. Combined with the versatility and deep liquidity of the USDT stablecoin, the biggest beneficiaries will undoubtedly be end users.

Innovation in place of FUD

The launch of USDT on the Kava blockchain is Tether's way of innovating beyond the recent Fear, Uncertainty and Doubt (FUD) that gripped its community following the depegging of the stablecoin earlier this month.

While the stablecoin has regained its $1 peg according to data from CoinMarketCap, the strategic efforts of the company to spread its tentacles can help it to regain trust and cushion related effects on the market in the long term.

As Tether CTO Paolo Ardoino described the new link-up with Kava, the move will help "reshape the future of decentralized finance."

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