Tether (USDT) Plans Expansion to Aptos Blockchain

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Tether, the world’s largest stablecoin by market capitalization, is making a significant move by expanding its reach to the Aptos blockchain. According to the announcement on X, this development is poised to bolster the liquidity and accessibility of USDT within the decentralized finance (DeFi) ecosystem, offering users a new, efficient, and scalable platform to utilize the stablecoin.

Benefits of Tether’s Expansion

The Aptos blockchain, known for its high throughput and security features, is an emerging layer-1 blockchain that has gained attention in the crypto community. By integrating USDT on Aptos, Tether aims to leverage the blockchain’s advanced infrastructure, which boasts low transaction fees and high-speed processing. 

For Aptos, the addition of USDT is a significant milestone. It enhances the blockchain’s ecosystem by providing users with a reliable and widely accepted stablecoin. This is expected to attract more developers and projects to the Aptos network, as they can now build DeFi applications and services that utilize USDT’s stability and liquidity. 

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As the demand for stablecoins continues to surge, especially in volatile market conditions, Tether’s strategic move ensures that it remains accessible to users across multiple platforms, thus reinforcing its position as a cornerstone of the digital economy.

Tether Expand its Position Across Several Blockchains

While some exchanges have discontinued support for USDT, it continues to expand its position across several blockchains. In 2022, Tether announced the launch of its native dollar-backed token on the Polkadot blockchain. USDT’s addition to the Polkadot blockchain will invariably mitigate the likely repercussions of market volatility. 

So far, the Tether USDT has been listed on over ten networks, including Ethereum (ETH), Celo, Kava (Cosmos), Solana (SOL), Liquid Network, Avalanche, Tron, Near, and TON. Meanwhile, in 2023, Tether made public its practice of maintaining a $3.3 billion liquidity buffer. This strategic measure serves a twofold purpose. 

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First, to uphold stability within the USDT ecosystem and to nurture unwavering trust among its diverse stakeholders. Just recently, Binance, one of the world’s largest cryptocurrency exchanges, announced the integration of Tether (USDT) deposits and withdrawals on the Toncoin (TON) network.

Aptos Surpasses Solana and Sui

In May, the layer-1 blockchain platform, developed by former Facebook employees, achieved a remarkable milestone in blockchain transactions. According to data, Aptos recorded an unprecedented 115.4 million transactions daily, surpassing Solana’s 31.7 million transactions on the same day.

This surge set a new benchmark in the blockchain industry, overtaking the previous L1 record of over 65 million transactions held by the Sui Network by over 50%. Data from Aptoscan also revealed that the blockchain’s user transactions per second (TPS) reached an all-time high of 32,000 on the same day.

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