At the end of June, the company behind the USDT stablecoin, Tether, announced the removal of its token from several blockchains. Really, Tether has ended support for Algorand and EOS due to insufficient volume on these channels. However, this has not hindered the company’s desire for expansion, which is already announcing new partnerships, notably with Aptos.
Tether’s USDT floats on Aptos (APT)
Monday 19 August teams Tether has announced the deployment of USDT natively on the Aptos blockchain.
“This integration is part of Tether’s broader strategy to make digital currency more globally accessible and useful, leveraging Aptos’ advanced blockchain technology and its exceptional speed and scalability. »
As a reminder, Aptos is a blockchain co-founded by former Meta engineers. This differs from most L1 by using the Move language for programming smart contracts.
USDT maintains its #1 position in the stablecoin ecosystem $117 billion in market capitalization.
In practice, Tron (TRX) and Ethereum (ETH) are the two main markets for USDT. The two blockchains represent 60 and 53 billion USDT respectively.
Despite the recent market downturn, Tether does not appear to be in crisis. Really, the company recently revealed record profits of $5.2 billion in the first half of 2024.