"Tether" the largest stable coin with a market capitalization of over US $72 billion, has launched Tether tokens (“USDT”) on Polygon.
Recently, the firm operating the blockchain platform tether.to that powers the world's largest stablecoin by market capitalization of over US $72 billion, has launched Tether tokens (“USDT”) on Polygon, a leading blockchain platform.
“We are excited to launch USDT on Polygon, offering its community access to the most stable and trusted stablecoin in the digital space,” said Paolo Ardoino, CTO at Tether. This will lead to potential adverse effects associated with market volatility by providing a stable currency for investors to generate yield and manage the network.
Polygon is a “Layer 2 or L2” scaling solution that runs on top of the Ethereum blockchain allowing speedy transactions and low fees. Currently, Polygon has more than 18,000 decentralized applications running on its network.
After Polygon's addition to USDT, the stablecoin is now live on a total of 11 networks including Ethereum, Solana, Algorand, EOS, Liquid Network, Omni, Tron, and Kusama etc.