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/" rel="noopener noreferrer nofollow">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" rel="noopener noreferrer nofollow">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/" rel="noopener noreferrer nofollow">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 29, 2024

PEPE’s Resurgence? Top Trader Who Made Millions Buys In Again

Black Swan Event Alert: Will Telegram’s Legal Issues Cause Crypto Market Crash Again?

XRP/USD Bullish Breakout Alert: Analyst Foresees 8,700% Price Rally

Cardano Founder Breaks Silence After Reports He's Gone Missing

The UK revises its AI strategy to cut costs

Will LUNC Price Hit $0.0003 by September

Join our free newsletter for daily crypto updates!