Polkadot now allows Tether (USDT) to be minted on its own blockchain
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Answer Polkadot now allows Tether (USDT) to be minted on its own blockchain
- Tether continues to expand its USDT stablecoin.
Tether, the operator of the Tether.to platform that backs the largest stablecoin by total market capitalization and the third largest cryptocurrency, today announced the launch of Tether (USDT) on the Polkadot blockchain.
The launch will allow the digital currency Tether to move in and out of the Polkadot network.
Dan Resser, chief growth officer at Acala Network, tweeted about the new development by saying:
USDT can now be minted on Polkadot.
Appchains such as Acala Network and general purpose EVM chains such as Moonbeam Network and Astar USDT Network can now be integrated into the Parachain and/or DApp ecosystem along with the stablecoin Acala aUSD.
Tether, the largest stablecoin on the market, continues to expand its presence in decentralized ecosystems.
The USDT stablecoin currently operates on 11 networks, including:
Avalanche, Kusama, Ethereum, Sulana, Algorand, EOS, Liquid Network, Omni, Tron, NEAR, Bitcoin Cash.
Last week, analytics firm Santiment reported that Polkadot is a leading blockchain network in terms of weekly development activity.
This is a major achievement for the network as it continues to thrive by introducing upgrades at regular intervals.
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Despite the positive developments, the DOT cryptocurrency continued to suffer from persistent bear market conditions.
At press time, the DOT cryptocurrency is trading at $6.44, down slightly in the last 24 hours.
Polkadot ranks as the 11th largest cryptocurrency with a market capitalization of $7 billion.
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