Tether Launches Recovery Tool for Migration of USDT Across Blockchains in Case of Disruptions Tether, a major
stablecoin issuer and one of the leading players in the crypto market, has introduced a recovery tool to facilitate the seamless migration of its Tether
(USDT) stablecoin between different blockchains. On March 4, Tether announced the launch of its blockchain recovery plan, aimed at ensuring uninterrupted access to USDT in the event of disruptions faced by any of the multiple
blockchain networks utilized for
USDT transactions.
As of that date, Tether reported that
USDT is present on 14 different blockchains, including Tron, Ethereum, Solana, Avalanche, and Omni. Among these,
Tron and Ethereum are the two largest blockchains for
USDT, accounting for 51% and 43% of all issued
USDT, respectively.
Tether noted that USDT exists independently of any specific blockchain and that the blockchains are solely used as a transport layer. Tether’s
recovery tool is intended to help mitigate risks associated with potential
blockchain unresponsiveness. Tether explained the process, stating that users can verify ownership of their addresses on an unresponsive blockchain and then indicate a recipient address on another
supported blockchain.
