Tether launches USDT stablecoin on Solana blockchain Tether has launched its USDT stablecoin on Solana blockchain.

Tether Launches USDT Stablecoin on Solana Blockchain

Tether has launched its USDT stablecoin on the Solana blockchain, writes The Block.

According to Tether, Solana will help users exchange USDT at speeds in excess of 50,000 transactions per second, while processing fees in its system usually do not exceed $ 0.00001. By comparison, Ethereum is capable of processing 15 transactions per second at the first level of the network, and the average fee is now $ 2.65.

USDT is also available on Algorand, Ethereum, EOS, Liquid Network, Omni, OMG Network, and Tron. The Solana blockchain was previously used by the FTX exchange to launch its DEX Serum.

Solana Foundation President Anatoly Yakovenko said the integration of Tether was "absolutely necessary", noting the role of stablecoin in the DeFi space and the wider cryptocurrency community.

“The Solana blockchain was originally designed to support thousands of transactions at Nasdaq speeds. Today, with the support of Tether, Solana can finally make that dream come true, ”he added..

Tether plans to continue expanding support for new blockchains, but has yet to reveal their names. Tether CTO Paolo Ardoino said there are three such integrations currently underway.

SOL has climbed 42% in the last hour, partly regaining its recent decline from all-time highs.

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