Tether, a well-known stablecoin issuer, has announced the launch of its popular stablecoin USDT on the Aptos blockchain. This decision opens up new prospects for both Tether and USDT users.
Advantages of USDT Integration with Aptos
The choice of the Aptos blockchain for USDT integration is driven by several key factors:
- High speed and scalability: Tether representatives note that Aptos offers impressive performance. In May 2024, the network demonstrated record-breaking throughput, processing 157 million transactions in a single day.
- Growing ecosystem: Aptos shows significant growth in its user base. The average number of daily active users increased from 96,000 in January to 170,000 in July 2024.
- Low fees: One of the main advantages of integrating USDT with Aptos is the extremely low transaction fees, which amount to less than a cent. This makes the platform attractive for both microtransactions and large-scale corporate operations.
Strategic Goals and Implications
The launch of USDT on the Aptos network has a number of strategic goals and implications:
- Increased accessibility: Tether’s management emphasizes that this collaboration aims to increase the accessibility of USDT stablecoins for users with different income levels.
- Ecosystem optimization: Recently, Tether discontinued USDT support on Algorand and EOS networks, explaining this as a need to «maintain balance in its ecosystem». The company stated its intention to cooperate with networks that «support innovation in the crypto space».
- Expanded usage: Low fees and high transaction speeds can contribute to a wider adoption of USDT in everyday financial operations.
- Competition in the stablecoin market: This move can strengthen Tether’s position in the competitive struggle with other stablecoin issuers.
The launch of USDT on the Aptos blockchain demonstrates Tether’s commitment to innovation and adaptation to the changing needs of the cryptocurrency market. This decision can have a significant impact on the stablecoin ecosystem and contribute to the further development of decentralized finance.
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