Stablecoin issuer Tether Limited has extended the range of supported blockchains with new decentralized network from Solana.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
With the new blockchain network, holders of USDT will be able to exchange the stablecoin at speeds greater than 50,000 transactions per second – often for less than $0.00001 per transaction.
"USDt’s integration into the Solana network will facilitate the building of ultra high-speed, low-cost decentralized finance (DeFi) applications," an official announcement states.
Besides Solana, USDT has already been launched on Algorand, Ethereum, EOS, Liquid Network, Omni, Tron and Bitcoin Cash’s Standard Ledger Protocol.
Tether claims the collaboration will allow institutions to trade USDT at Nasdaq Speeds, confirming USDT’s "pivotal role in supporting innovation in the crypto ecosystem."
iHodl earlier reported that the largest stablecoin by market cap is also the most popular stablecoin in East Asia, making up 93% of all stablecoin value transferred by addresses in the region.
As a result of such spike in popularity, USDT even surpassed bitcoin to be the most-received digital asset in June 2020.
If you are looking for a crypto trading platform to trade your assets, visit Gozo.pro, a safe and reliable exchange.