Tether Operations Limited, a blockchain-enabled platform that powers the largest stablecoin by market capitalisation, 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 USD0.00001 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,” says 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 capitalisation has grown to over USD37 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.
