Tether on Kusama, USDT soon on Polkadot?


USDT goes on the attack on Kusama – In a few years, stablecoins have become a cornerstone of the crypto ecosystem. Despite their multiplicity, the USDT issued by the Tether company remains the market leader. In total, over $82 billion in USDT is circulating across multiple blockchains. Obviously, Tether does not intend to stop there and is multiplying partnerships with new blockchains.

Tether invites itself into the Kusama ecosystem

Launched in February 2015, USDT Tether is by far the most popular stablecoin in the crypto ecosystem. In total, these are 82 billion tokens that circulate through 10 different blockchains. Among these blockchains, we find Ethereum, Solana, Tron or Avalanche to name a few.

On Wednesday April 13, the company Tether announced the launch of USDT on the Kusama network.

Tweet announcing the launch of USDT on Kusama – Source: Twitter.

“We are thrilled to launch USDT on Kusama, giving its community access to the most liquid, stable and trusted stablecoin in the digital token space. »

Paolo Ardoino, CTO of Tether.

In practice, this will be issued on the parachain Statemine. As a reminder, Statemine is the first parachain of the Kusama network. This is intended to be public good”, namely that it allows the deployment of assets, both fungible and non-fungible, that can be used across the Kusama ecosystem.

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Tether soon on Polkadot?

Kusama is a chain called canary of the Polkadot blockchain. Thus, this one is an exact replica of Polkadot and acts as a full-scale test blockchain.

Therefore, the addition of USDT to the Kusama ecosystem portends a USDT likely support on Polkadot In the coming months.

USDT will then compete with Acala USD (aUSD) developed by the Acala protocol and already well established in the Polkadot ecosystem.

Last March, the Acala protocol announced the launch of a $250 million fund aimed at developing its stablecoin. This fund will notably increase the use cases as well as the adoption of its stablecoin through the Polkadot ecosystem.

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