Tether’s stablecoin USDT is now available on Polkadot’s Kusama network first parachain – the Statemine. The latest addition to the Kusama network is being seen as a milestone. Ethereum, TRON, EOS, and Algorand are also listed on the network.
Paolo Ardoino, CTO at Tether, highlighted that Kusama is the perfect representation of decentralization, permissionless ecosystems. He said its a platform built to put the control in the hands of its users. Tether wants to become an essential asset in the network’s growing ecosystem.
Moreover, it strengthens Tether’s position as the most widely adopted stablecoins. USDT is now live on a total of ten networks, including Solana, Ethereum, Liquid Network, Tron, Omni, Algorand, and the Standard Ledger Protocol. Ardoino pointed out that Tether tokens provide access to the largest and most transparent option in the greater cryptocurrency ecosystem. Tether ensures a smooth interoperable experience for its users based on its dedication to multi-chain accessibility. It allows anyone to build anywhere.
Now that USDT is available on the Kusama network, developers will be able to make trustless applications across chains, networks, and communities. It should be noted that Statemine parachain provides the functionality for deploying assets, from tokenized artwork to stablecoins, to give users a better experience with lower fees compared to existing solutions. It addresses problems such as scalability, security, and interoperability of blockchains. Statemine is a public-good parachain designed to be the balance-keeper of thousands of different fungible and NFTs.