The famous stablecoin Tether arrived on the Tezos Blockchain after several field tests were carried out with it. USDT is reportedly looking to expand its transactions wave with its dedicated network. It is expected to completely change the Tether holding and its exchange throughout the virtual market.
Crypto trading is developing in many ways, and stablecoins are not far behind. Tether is the third largest token in the market according to CoinMarketCap, and its adoption wave increases daily. Likewise, Stablecoin will begin to be available on the Bitfinex Exchange.
USDT advance in the crypto market
The Tether initiation within the Tezos Blockchain shows how stablecoins are advancing throughout the virtual market. This scheme with 1:1 parity with the US dollar has become one of the most important worldwide and does not plan to lower its potential.
USDT, which the TETHER Company created, perhaps did not think it would go this far in the early days of initiating the crypto market. But over time, it managed to position itself among the preferred tokens, dominating other stablecoins such as BUSD from the Binance Exchange, DAI, USDC, and TrueUSD.
According to the company’s chief technology officer, Ardoino Paolo, this new partnership with the Tezos Blockchain will allow the community to grow so everyone can use the most reliable Stablecoin. Ardoino did not mention the project with Tezos, but it is believed that it will be big and benefit both companies.
Tether expansion along with Tezos
The Tether company has grown amazingly in the last year. Perhaps one of the most attractive points is that both companies have innovations. This joint project will also allow DeFi projects and Web3 network schemes to be promoted.
For Tether, it is also convenient to join the Tezos Blockchain, knowing that its scheme has advanced rapidly in recent months. Currently, the XTZ network is a priority in NFT trading; it has good support for Defi Apps, offers decentralized exchange, and has Ethereum Virtual Machine connections, among other things. Also, the Blockchain has several participants of interest, such as the Vitality team, The Gap, and Manchester United.
With more than five years of its creation, USDT has proven to be a reliable stablecoin, so it is expected that its new projects will 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 commerce experiences its bearish streak. This project looks forward to seeing its progress in the coming months before the end of 2022.