Blockchain”Breaking News: Tether’s USDT Joins Forces with Celo Blockchain!

Tether’s USDT, the largest stablecoin by market value, will launch on the mobile-focused layer-1 platform Celo. This latest integration expands the use cases for stable assets on Celo, including remittances, savings, lending, and cross-border payments, with a focus on emerging markets.

Celo, currently migrating from a standalone blockchain to a layer-2 solution atop Ethereum, is known for its mobile-first approach and multiple stable assets for global users. This move further solidifies its commitment to making decentralized finance accessible to all.

The integration of USDT on Celo will also bring added efficiency to decentralized apps (dApps) on the platform. The proposal of using USDT as a gas currency, put forth by the Celo community-focused forum, will streamline transaction processes and enhance overall usability for millions of users.

Tether CEO Paolo Ardoino expressed excitement about this partnership, stating, “The integration of Tether USDT on the Celo platform, which is built for the real world, will represent a significant step forward in our mission. By leveraging the unique capabilities of Celo, we can further enhance the usability and accessibility of Tether for millions of people.”

The addition of USDT on Celo marks another milestone for Tether, which is already live on several other layer-1 networks, including Avalanche, Polygon, and Near. It also follows the footsteps of stablecoin issuer Circle, who launched USDC on Celo in January.

As the crypto industry continues to evolve and mature, collaborations and integrations like these highlight the growing importance and potential of stablecoins in the decentralized economy.