Tether Brings USD₮ to Aptos Network, Expanding Digital Currency Accessibility
Tether Operations Limited (Tether) has announced the upcoming launch of its U.S. dollar-pegged Tether tokens (“USD₮”) on the Aptos Network.
In a move designed to enhance the usability and accessibility of digital currencies worldwide, Tether Operations Limited (Tether) has announced the upcoming launch of its U.S. dollar-pegged Tether tokens (“USD₮”) on the Aptos Network.
This strategic integration, a cornerstone of Tether’s broader strategy, leverages Aptos’ advanced blockchain technology, renowned for its exceptional speed and scalability.
Aptos, known for its cutting-edge blockchain infrastructure, has demonstrated a commitment to rapid transaction processing and scalability, evidenced by a remarkable growth in its ecosystem.
Furthermore, the average daily active users have surged from 96,000 in January to 170,000 in July 2024, while a record-breaking 157 million transactions were processed in a single day in May 2024.
This integration seamlessly blends the dynamic capabilities of the Aptos network with the established stability and reliability of Tether’s USD₮. Moreover, Aptos boasts a robust developer community, reflected in the steady increase in deployed contracts, indicating a vibrant and ongoing development environment.
USD₮’s integration on the Aptos blockchain will further benefit from exceptionally low gas fees, costing only a fraction of a penny. This cost-effectiveness will significantly reduce transaction fees, making it financially viable for a wider range of applications, from microtransactions to large-scale enterprise operations.
This strategic collaboration between Tether and Aptos harnesses these transformative features to enhance the utility and accessibility of USD₮, catering to users from diverse economic backgrounds.
Tether and Aptos Digital Currency Cooperation
“Aptos’ innovative technology offers a robust platform for facilitating faster and more cost-effective transactions with USD₮. This collaboration underscores our ongoing efforts to lead with innovation and support our users with stable, reliable financial tools.”
Notably, “The integration of Tether’s USD₮ marks a significant milestone for Aptos,” said Mo Shaikh, CEO of Aptos Labs, which played a pivotal role in providing technical expertise for the integration.
Additionally, “This collaboration will leverage Aptos’ capability to process massive volumes and rapidly grow its user base. As a member of the Aptos community, I’m excited to see builders across Aptos’ thriving ecosystem combine strengths with Tether and leverage Move on Aptos to push the boundaries of what blockchain technology can achieve for users globally.”
“We’re building a strong, global, and institution-grade DeFi and payments ecosystem that values speed, decentralization, and interoperability while leveraging Move on Aptos to make it all work,” said Bashar Lazaar, Head of Grants & Ecosystem at Aptos Foundation.
