Tether to Launch USDT on Avalanche
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17 May
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Tether, a company behind the well-known stablecoin USDT, will launch tether on Avalanche (AVAX), the company said in a blog announcement. With Avalanche, users will get fast USDT transactions with low transaction fees that are "fractions of a cent."

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Paolo Ardoino, Tether CTO, said that the launch of USDT on Avalanche will provide traders with a fast, cost-effective way to transfer the stablecoin across various cryptocurrency exchanges.

"Avalanche's vision for a highly scalable blockchain with low transaction fees and interoperability has been endorsed by some of the brightest minds in the space," Ardoino added.

The Avalanche network is based on multiple blockchain networks. The decentralized finance (DeFi) ecosystem uses a Proof of Stake (PoS) consensus algorithm to reach over 4500 transactions per second. In September last year, the stablecoin issuer extended the range of supported blockchains with a new decentralized network from Solana.

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With the new blockchain network, holders of USDT can reportedly exchange the stablecoin at speeds greater than 50,000 transactions per second – often for less than $0.00001 per transaction.

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