Tether Unveils New Stablecoin on Algorand Blockchain
Shutterstock
Main page News, Blockchain, Tether, Crypto Market, Stablecoins, Cryptocurrency
Hot topic
Feb. 10, 2020

Well-known stablecoin issuer Tether Inc. has announced it deployed stablecoins on Algorand blockchain, which is the world’s first permissionless blockchain platform.

According to an official announcement, Algorand users will get access to the Tether stablecoins in the foreseeable future.

Bitfinex Launches Margin Trading for Tether Gold

Tether is reportedly using one of the main features of the Algorand 2.0 upgrade, including the Algorand Standard Asset (ASA) technology, which makes it possible to tokenize any type of asset on the Algorand network.

Algorand Inc. CEO Steve Kokinos says the integration of the Tether stablecoin on Algorand "will be a gamechanger for global DeFi participants as it is one of the fastest and safest ways to move money around the world."

"We are excited that Tether has chosen to join the Algorand ecosystem and its stablecoin will benefit from technology that provides immediate transaction finality and security to support a strong and more stable DeFi economy," added Kokinos.

Tether CTO Paolo Ardoino claims the collaboration with Algorand leverages the speed and security of Algorand’s protocol to give traders fast settlement and reduced counterparty risk in their fiat to digital asset transactions.

Previously iHodl reported that a popular adult entertainment website Pornhub added the possibility of making payments with the stablecoin Tether (USDT) through the TRON wallet.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error
Close