“Tether Expands USDT Stablecoin to Celo Blockchain for Faster, Low-Cost Transactions”
Tether, the issuer of the USDT stablecoin, continues to broaden its reach across various blockchain networks, forming a strategic partnership with the Celo network.
Tether is launching USDT on Celo, a layer-1 blockchain compatible with the Ethereum Virtual Machine (EVM), designed for swift and low-cost transactions.
In a news announcement on March 11th, Tether highlighted that the new integration brings several benefits to USDT, including “transactions fees below 1 cent, notably low,” hovering around $0.001 USD, enabling feasible microtransactions.
“We are thrilled to welcome USDT to the Celo ecosystem, which is rapidly emerging as a leader in stablecoins and real-world assets,” said Celo co-founder Rene Reinsberg.
Reinsberg further noted, “With USDT poised to join Celo, users will have even more options for fast, low-cost payments and access to powerful stablecoin use cases benefiting daily users worldwide.”
At the time of writing, Tether has not specified when the first batch of USDT will be issued and operational on the Celo blockchain.