Tether to Launch USDT Stablecoin on Aptos Network, Enhancing Accessibility and Efficiency
Tether Operations, the issuer of the world’s largest stablecoin, has unveiled plans to introduce its U.S. dollar-pegged Tether tokens (USDT) on the Aptos Network. This strategic move aims to leverage Aptos’ advanced layer-1 blockchain technology, developed by former Facebook engineers, to enhance the scalability and efficiency of USDT transactions.
Aptos Network Gains Momentum
Aptos has been rapidly gaining traction for its robust blockchain infrastructure. Recent statistics highlight impressive growth within the Aptos ecosystem: average daily active users surged from 96,000 in January 2024 to 170,000 by July 2024. The network has also demonstrated its capacity for handling large transaction volumes, processing a record 157 million transactions in a single day in May 2024. Notably, Aptos surpassed Solana, achieving an extraordinary 115.4 million transactions in a day compared to Solana’s 31.7 million, according to Aptoscan.
Cost Efficiency and Broader Adoption
One of the key benefits of integrating USDT on Aptos is the network’s remarkably low gas fees. With transaction costs amounting to just a fraction of a penny, Aptos offers a cost-effective solution for both microtransactions and large-scale operations. This economic advantage is expected to lower the cost barrier for users and foster broader adoption of digital currencies.
Tether’s CEO, Paolo Ardoino, emphasized the significance of this partnership, stating, “Aptos’ innovative technology provides a robust platform for facilitating faster and more cost-effective transactions with USDT.” Ardoino highlighted that this collaboration aligns with Tether’s mission to lead through innovation while offering users stable and reliable financial tools.
Mo Shaikh, CEO of Aptos Labs, echoed this enthusiasm, noting that the integration of USDT marks a pivotal milestone for the network. “This collaboration will capitalize on Aptos’ ability to handle high transaction volumes and support rapid user growth,” said Shaikh.
This partnership between Tether and Aptos is poised to enhance the utility of USDT, making it an even more attractive option for users across diverse economic sectors and regions.