(Tether) Tether has announced that it has launched its stablecoin USDT on Ethereum scaling platform, Polygon.
USDT is expected to support Polygon’s decentralized finance ecosystem by availing a stable currency for investors to earn yields and move in and out of the network.
Tether’s chief technology officer Paolo Ardoino said the network is excited to launch USDT on Polygon. He says Tether is important to the Ethereum scaling network since the latter has seen record growth this year.
There are at least 19,000 decentralized applications running on Polygon, with the network processing more than 1.6 billion total transactions. The network prides itself of having faster transaction speeds at lower fees.
The entry of USDT into Polygon means that the stablecoin is available in at least 11 blockchains. The blockchains include Ethereum, Solana, Algorand, Tron, Kusama, among others.
MATICUSD is currently down -1.77%.
