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Tether USDT Stablecoin Becomes Available on Near Protocol

Tether USDT Stablecoin Becomes Available on Near Protocol

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Tether continues to expand stablecoin support on various blockchain networks.

Issuer by Tether Integration Limited Tether (USDT) stable coins, announced the launch of USDT to the Near Protocol.

By blog post shared on September 12, this integration is One of the steps taken by Tether to expand its presence in the field of decentralized finance (DeFi).

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Near Protocol is “smart contract capable blockchain designed to provide an ideal environment for dApps.” The announcement states that Near Protocol has recently achieved the milestone of being home 700 projects.

Speaking about the integration, Tether CEO Paolo Ardoino stated:

We are excited to launch USD₮ on NEAR, providing its community with access to the first, most stable and trusted stablecoin in the digital token space. The NEAR ecosystem has witnessed historic growth this year, and we believe that Tether is essential to help it continue to thrive.

Near protocol becomes the fourteenth blockchainwhere Tether stablecoin (USDT) is supported. Stablecoin can be found in Ethereum, Bitcoin Cash’s Simple Ledger Protocol (SLP), Solana, Tron, Avalanche, EOS, Algorand, Statemine, Tezos, Omni, Kusama, Polygon and Liquid Network.

Marieke Flament, CEO of the NEAR Foundation, claims that she is happy that the Near Network can be a part of Tether’s growth as the future of finance.

We support initiatives that can bring more stability to the DeFi ecosystem and help us promote the mass adoption of Web3. We look forward to seeing what Tether will achieve with the launch of USD₮ on the NEAR Network and its crucial role in shaping the future of finance and the digital economy.

At the beginning of September, e.g. The majority of USDT was issued on the Tron and Ethereum blockchains. According to information on Tether’s website Tron authorized over $33 billion while Ethereum over $32 billion.

In other news at the end of August, Tether announced that will not deny sanctioned Tornado Cash addresses until otherwise directed by the US Department of Foreign Affairs (OFAC).

Gile K. - cryptanalyst

by Gile K. – Crypto Analyst, BitDegree


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