New Token Version of Tether (USDT) Is Released on the Near Network

 






The stablecoin's developer thinks this network will be the perfect setting for this fresh launch.

NEAR Foundation CEO Marieke Flament has high hopes for Tether's future contribution to the digital economy and its position on the network.

 

The debut of US dollar-pegged cryptocurrency tokens on the NEAR Network was announced by Tether Operations Limited, the organization that supports the largest stablecoin in the world by market capitalization, Tether (USDT).

 

 





 

Smart contracts underpin this blockchain. The company stated in a news release dated September 12 that it has a special scaling solution and is intended to "create the optimum environment" for decentralized applications (dapps).

 

The Near network hosts approximately

The first, most reliable, and trusted stablecoin in the digital token sector, USDT, will now be available on NEAR, according to Paolo Ardoino, CTO of Tether.

Tether, he continued, "will be vital in enabling it continue to thrive" because the NEAR environment has experienced very high growth this year.

The NEAR Foundation's executive director, Marieke Flament, stated that one of her goals is to support activities that help the DeFi ecosystem become more stable.

 

 






 

Additionally, she hopes to advance the widespread adoption of Web 3. "We are excited to watch what Tether can accomplish with the introduction of USD on NEAR Network and the crucial role it will play in determining the future of finance and digital currency.

As an Alternative

 

Influential media outlets like The Wall Street Journal and analysts for the cryptocurrency business have recently posed several queries to Tether Operations Limited.

 

The largest complaint is that the business didn't undergo a thorough audit to confirm its financial statements.

 

Tether has countered criticism by asserting that it complies with regulations and has recruited the international Italian accounting firm BDO to ensure its openness.

 

Reasons to Give a Damn

 

 




 

The stablecoin market will be significantly impacted by what happens to Tether, for better or worse.

 

Binance USD, a very potent rival now vying to unseat Tether from first place (BUSD).

 

The focus on these coins has increased since the Terra/Luna ecosystem collapsed.

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