@Tether_to is bringing $USDt, the world's leading stablecoin, to the Aptos blockchain—marking a major first for the Move ecosystem.
Tether (CRYPTO: USDT), the world's largest stablecoin by market cap, is set to launch on the Aptos (CRYPTO: APT) blockchain, according to an announcement on Monday.
The move comes as part of a broader effort by Tether to increase global access to digital currency, utilizing Aptos' high-speed and scalable blockchain technology.
Aptos is known for its fast and scalable blockchain infrastructure. Recent data reveals a substantial increase in ecosystem growth, with average daily active users surging from 96K in January to 170K by July 2024. Moreover, in May 2024, the network processed a record-breaking 157 million transactions in a single day.
This integration will capitalize on these dynamic capabilities, enhancing the platform's appeal with Tether's established stability and reliability. The Aptos network also boasts a strong developer community, evident in a steady rise in deployed contracts, indicating active and ongoing development.
The integration of USD₮ on Aptos will also feature extremely low gas fees, costing just a fraction of a penny per transaction. This will significantly reduce transaction costs, making it economically viable for a wide range of applications, from microtransactions to large-scale enterprise operations.
This strategic partnership between Tether and Aptos harnesses these transformative features to enhance the utility and accessibility of USD₮, making it more attractive to users from diverse economic backgrounds.
“The team at Tether is excited to integrate and collaborate with the Aptos ecosystem, enhancing our commitment to making digital currencies more accessible and functional,” said Paolo Ardoino, CEO of Tether. “Aptos’ innovative technology offers a solid platform for facilitating faster and more cost-effective transactions with USD₮. This collaboration underscores our ongoing efforts to lead with innovation and support our users with stable, reliable financial tools.”
“The integration of Tether’s USD₮ marks a significant milestone for Aptos,” said Mo Shaikh, CEO of Aptos Labs, which provided technical expertise to aid the integration. “This collaboration will leverage Aptos’ capability to rapidly grow its user base. As a member of the Aptos community, I’m looking forward to seeing builders across Aptos’ hefty ecosystem combine strengths with Tether and leverage Move on Aptos to push the boundaries of what blockchain technology can achieve for users globally.”
“We’re building a strong, global, and institution-grade DeFi and payments ecosystem that values speed, decentralization, and interoperability while leveraging Move on Aptos to make it all work,” said Bashar Lazaar, Head of Grants & Ecosystem at Aptos Foundation. “The launch of USD₮ on Aptos accelerates the availability and utility of real-world value for institutions, Web3 builders, and regular people worldwide.”
