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British Virgin Islands, March 11, 2021, 11:30 AM UTC – Tether Operations Limited, the blockchain-enabled platform that powers the largest stablecoin by market capitalization, has launched Tether tokens (USDt) on Solana, an ultra-high-speed Layer 1 blockchain.
USDt’s integration on Solana will allow USDt holders to exchange USDt at speeds greater than 50,000 transactions per second, often for as little as $0.00001 per transaction. This will facilitate the development of high-speed, low-cost applications, including those in the nascent decentralised finance (DeFi) space.
“This integration with Solana will help to support a dazzling array of projects, including those in DeFi, Web3 and blockchain gaming,” said Paolo Ardoino, CTO of Tether. “We look forward to serving the growing ecosystem of projects being developed on Solana as Tether cements its pivotal role in the digital token ecosystem.”
As the most liquid, stable and innovative stablecoin, USDt’s market capitalization has grown to over US$37 billion. Tether works across a diversity of different blockchains, including Algorand, Bitcoin Cash’s Simple Ledger Protocol (SLP), Ethereum, EOS, Liquid Network, Omni and Tron. Tether is driven to support and empower growing ventures and innovation in the blockchain space.
About Tether
Tether is the preeminent stablecoin with the biggest market capitalization, surpassing that of all rival offerings combined. Created in October 2014, Tether has grown to become the most traded cryptocurrency. Tether is disrupting the legacy financial system by offering a more modern approach to money. By introducing fiat currency-digital cash to the bitcoin, Ethereum, EOS, Liquid Network, Omni, Tron, Algorand and Solana blockchains, Tether makes a significant contribution to a more connected ecosystem. Tether combines digital currency benefits, such as instant global transactions, with traditional currency benefits, such as price stability. With a commitment to transparency and compliance, Tether is a fast and low-cost way to transact with money.
