The famous stablecoin Tether has arrived on Tezos blockchain after several field trials were carried out with it. USDT is reportedly looking to expand its wave of transactions with its dedicated network. It is expected to completely change the holding of Tether and its exchange in the virtual market.
Crypto trading is growing in many ways, and stablecoins aren’t far behind. Tether is the third most important token in the market according to CoinMarketCap, and its wave of adoption is increasing daily. Likewise, Stablecoin will begin to be available on Bitfinex Exchange.
USDT Advances in the Crypto Market
The Tether initiation within the Tezos Blockchain shows how stablecoins are progressing in the virtual market. This 1:1 parity pattern with the US dollar has become one of the largest in the world and does not plan to lower its potential.
USDT, which the TETHER company created, may not have thought it would go this far when the crypto market first launched. But over time, it managed to establish itself among the preferred tokens, dominating other stablecoins such as the BUSD of the Binance Exchange, DAI, USDC and TrueUSD.
According to the company’s Chief Technology Officer, Ardoino Paolo, this new partnership with Blockchain Tezos will allow the community to grow so that everyone can use the most trusted Stablecoin. Ardoino did not mention the project with Tezos, but it is believed to be significant and benefit both companies.
Extending Tether with Tezos
The Tether company has seen incredible growth over the past year. Perhaps one of the most attractive points is that both companies have innovations. This joint project will also allow Challenge Web3 projects and networks to promote.
For Tether, it is also convenient to join the Blockchain Tezos, knowing that its system has progressed rapidly in recent months. Currently, the XTZ network is a priority in NFT trade; he has good support for Challenge Apps, offers a decentralized exchange and has Ethereum Connections of virtual machines, among others. Additionally, the Blockchain has several participants of interest, such as Team Vitality, The Gap, and Manchester United.
With more than five years of its inception, USDT has proven to be a reliable stablecoin, so its new endeavors are expected to be taken with kindness. It is a token that has not lost its parity with the dollar and has now become the most used alternative by crypto enthusiasts while virtual trading experiences its bearish streak. This project looks forward to seeing its progress in the coming months before the end of 2022.