Stablecoin

Aptos

Stablecoin issuer Tether&nbsp;<a style="text-decoration:none" href="https://tether.io/news/tether-usd%e2%82%ae-to-launch-on-aptos-blockchain/">announced</a> the launch of its primary stablecoin, USDT, on the Aptos blockchain. This strategic move aims to reduce transaction costs significantly, offering users a more economical and efficient way to conduct transactions.&nbsp;
<h2 dir="ltr" id="span-span-lower-transaction-costs-span-span">Lower Transaction Costs</h2>
Aptos, known for its low gas fees, charges only a ‘fraction of a penny’ per transaction, according to reports. In addition, users are able to engage in a wide range of transactions, from microtransactions to large-scale enterprise operations, without the financial burden usually associated with higher-cost networks.
&nbsp;
Paolo Ardoino, CEO of Tether, stressed the importance of this collaboration, stating:
&nbsp;
<blockquote>
 "Aptos’ innovative technology offers a solid platform for facilitating faster and more cost-effective transactions with USDT. This collaboration underscores our ongoing efforts to lead with innovation and support our users with stable, reliable financial tools."
</blockquote>
<h2 dir="ltr" id="span-span-enhancing-the-aptos-ecosystem-span-span">Enhancing the Aptos Ecosystem</h2>
The integration of USDT on Aptos is expected to enhance the blockchain’s appeal by tapping into Tether’s established stability and reliability.&nbsp;
&nbsp;
The Aptos network has been growing, with a robust developer community and an increasing number of deployed contracts. The platform processed a record-breaking&nbsp;<a style="text-decoration:none" href="https://aptoscan.com/analytics">144 million transactions</a> on Aug. 14, 2024.
&nbsp;
Mo Shaikh, CEO of Aptos Labs, highlighted the significance of this milestone, stating:
<blockquote>
 &nbsp;"The integration of Tether’s USDT marks a significant milestone for Aptos. This collaboration will leverage Aptos’ capability to process massive volumes and rapidly grow its user base."
</blockquote>
With daily active users surging from 78,000 in May to 300,000 in August 2024, the integration of USDT is expected to further accelerate Aptos' growth.&nbsp;
<h2 dir="ltr" id="span-span-growing-adoption-and-market-presence-span-span">Growing Adoption and Market Presence</h2>
USDT is the most widely-used stablecoin globally, with a market cap of approximately $117 billion, according to&nbsp;<a style="text-decoration:none" href="https://coinmarketcap.com/currencies/tether/">CoinMarketCap</a>. It is already live on several major blockchains, including Solana, Ethereum, and TRON. The addition of Aptos to this list expands USDT's reach and utility, making it accessible to a broader range of users across different networks.

Tether Launches USDT on Aptos, Offering ‘Fraction-of-a-Penny’ Transaction Fees

Table of Contents

BSCN

Other articles published on Aug 23, 2024

Bitcoin's Focus Today is Fed Chair Powell's Speech in Jackson Hole! Here's the Time and Everythin...

Specific Group of Meme Coins Explode Following Donald Trump’s Recent Announcement

VIDT Price Soars 59% As Binance Announces VIDT DAO Perp Listing

USDD Stablecoin Drops Bitcoin Backing, Relies on TRX

Compound Price Prediction for Today, August 23 – COMP Technical Analysis

Unlocking Potential: 5 Altcoins Set for Explosive Growth This Autumn!

Join our free newsletter for daily crypto updates!