Tether has just launched stablecoins on the Near blockchain. It is a layer 1 Proof-Of-Stake network with the aim of boosting its usability and scalability.
As of now, Near is the 13th blockchain to circulate USDT. Previously, Ethereum, Solana, Avalanche, Algorand, Polygon, Tron, Omni, EOS, Liquid Network, Kusama, Tezos, and Bitcoin Cash’s Standard Ledger Protocol hosted the stablecoin.
According to information from Tether, the launch of USDT on the Near blockchain benefits the ecosystem of this blockchain. Currently, Near is running and developing 700 projects. Existing Tether users can use USDT on Near to trade and make a profit.
The Near Foundation has launched a $100 million Venture Capital fund and a lab for web3. The unit also established a management group to set standards for self-governance. Tether’s chief technology officer Paolo Ardoino added that:
“We are excited to launch USDT on Near. This gives the community access to the first, most stable and most reliable stablecoin in the digital token space. The Near ecosystem has achieved record growth this year, and we believe Tether is essential in helping Near continue to grow.”
See also: Near Foundation introduces $100 million fund to support web developers 3
USDT is a stablecoin available on various blockchains, but the blockchain with the most active Ethereum activity is Tron.
