Tether Expands Reach: USDT Now Available on Celo Chain Tether, the powerhouse behind the
world's largest stablecoin USDT, has made a groundbreaking move by launching its stablecoin on the
Celo chain.
This development is not just a feather in Tether's cap but also a significant milestone for Celo, as it gains access to the colossal USDT market.
With a whopping
$100 billion market cap, USDT continues to dominate the stablecoin space, assuring users that each token is backed by real-world assets like cash and treasury bills.
The integration of USDT on Celo means faster transfers and lower transaction fees, making it an attractive option for those without traditional banking services.
Designed with mobile users in mind, Celo aims to foster financial inclusion globally, especially in emerging markets where mobile phone usage is high.
The Celo ecosystem boasts an impressive network of
1,000 projects across 150 countries, with Opera MiniPay and SocialConnect gaining traction in Africa.
Tether's collaboration with Celo goes beyond offering USDT; there are discussions about using the stablecoin to pay transaction fees, potentially streamlining operations for decentralized applications.
This move aligns with Tether's vision of making digital currencies more accessible and reliable. As CEO Paolo Ardoino puts it, "Together, we can make Tether more usable and accessible for millions."
Notably, Celo's recent integration with Rarible brings advanced tools to NFT developers, further enriching the blockchain ecosystem.
