USDT issuer Tether has just announced that it has partnered with the DeFi lending protocol Aave to add the stablecoin to the platform.
According to the official announcement shared on Tuesday, Aave users can now lend and borrow USDT tokens on the platform.
Aave has reported that about $3.67M in USDT have already been lent, making Tether the most lent asset on the platform.
Joe Morgan, public relations manager at Tether, said that although users could already trade USDT on some DeFi platforms, this is the very first time that USDT is used for on-chain lending and borrowing, while this collaboration highlights "the important role that USDT plays in the DeFi ecosystem."
Tether CTO Paolo Ardoino said the goal is for the USDT to become "the de-facto most used stablecoin among major DeFi projects."
However, it should be noted that Tether is not the only stablecoin that is popular in the DeFi ecosystem. For instance, DAI accounts for about 50% of all loans.
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