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Tether Limited has announced the upcoming deployment of USDT stablecoins on another blockchain called Algorand. At press time, Tether is already issuing its coins on four other blockchains such as Omni, Ethereum, TRON and EOS.

Algorand is aimed at bringing public, permissionless Proof-of-Stake blockchain with an open-source approach to deliver on the vision of a borderless economy.

The Algorand consensus mechanism is developed to promote open participation, security and performance within a network that is decentralized by design.

Tether CTO, Paolo Ardoino, states the partnership with Algorand is "a fantastic opportunity" for Tether to further contribute to blockchain interoperability and collaboration.

"Algorand is an excellent team very much aligned with ours; we are proud to take this next step with them," Ardoino added.

Previously iHodl reported that Tether Limited mistakenly issued approximately 5 billion USDT coins on TRON blockchain, said Paolo Ardoino, Bitfinex & Tether CTO.


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