![]() Such a massive presence on a variety of chains allows for greater interoperability and simplified transactions for Tether’s clients. USDT is currently supported by several networks including Ethereum, Solana, Tron, Algorand, Eos, Liquid Network, Omni, and now on Kava. Tether’s real competitors at the moment are USDC, which has the advantage of being more widely used in DeFi and on the Ethereum blockchain, and DAI, which enjoys the presence behind it of the giant MakerDAO. True USD‘s presence also does not appear to be particularly threatening to Tether, having emerged only because of Binance and its decision not to charge fees for a limited period in major stablecoin trading pairs. The competition is likely to go down ever more when we consider that the Binance USD cryptocurrency has halted issuance of new supply after the SEC ordered the exchange and Paxos to stop. The stablecoin’s main rivals are USDC, DAI, TUSD and BUSD. USDT’s landing on Kava represents yet another recognition of Tether’s hegemony in the stablecoin market.Īs mentioned earlier, the crypto holds the largest market share in its target industry, with a capitalization of about $83 billion. Together, we aim to reshape the future of decentralized finance, fostering a robust and inclusive ecosystem that benefits users worldwide.” A look beyond Kava: the expansion of Tether and its stablecoin “The Kava network is a unique and widely followed blockchain with a robust track record of four years with zero security issues, which is essential to protecting USD₮ users. Paolo Ardoinio, CTO of Tether, had the following words to describe the partnership with Kava: On the other hand, for Kava, the advantage is on the reputational front as well as on the liquidity front of the chain: Being able to count on USDT’s presence in the internal exchanges of the network, besides lending luster to the infrastructure, allows the volume of liquidity to be amplified, with obvious benefits for the entire ecosystem. The crypto represents the cryptocurrency pegged to the value of the dollar par excellence, the favorite of institutional investors for off-shore exchanges and the one with the highest market share, corresponding to 67% compared to its main competitors. In addition, the integration allows USDT, which a few days ago updated its all-time high in terms of market capitalization, to further strengthen what is its dominance in the stablecoin world. The move to Kava ensures a foothold for users in the Cosmos ecosystem who intend to use the stablecoin, who can use the former as an access gateway. The landing of Tether’s flagship product on Kava is a win-win for both parties. ![]() Tether Operations Limited, based in the British Virgin Islands, announced a short while ago the launch of the USDT stablecoin on the layer 1 Kava, a blockchain founded in 2018 that bases its roots on the concept of scalability. Tether announces launch of USDT stablecoin on Kava Focus on the Kava network and the KAVA coin.A look beyond Kava: the expansion of Tether and its stablecoin.Tether announces launch of USDT stablecoin on Kava. ![]()
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