Paolo Ardoino with reference to Kucoin and Algorand stated, in these times, having more alternatives with low fees is extremely important to make trading arbitrage efficient.

This, he stated in response to KuCoinSupporting the Deposit and Withdrawal Services for Tether USDT and USD Coin $USDC on Algorand.

However, some of them have tried to criticize the process stating that it is paid advertisement.  Whether it is paid or not paid, the opinion expressed that we need lot of low fees options to make for efficient trading arbitrage is true.

Tether are obviously interested in their deals because Algorand Foundation recently expressed:  OKEx, OKCoin, and Kucoincom are now supporting the standard assets of Algorand, which includes USDC and USDT.  Also Huobi Global are going to extend their support to Algorand very soon.

For any kind of usage increase there should be support from the community. Before that the community should be facilitated with access to the details of the product and they need to also understand its true usability and they need to be able to use it.

Recently, it was reported that stablecoin Usage is getting accelerated on Algorand with exchange support which provides for mainstream community access. Therefore, there is no wonder that some of the leading stable coins are finding it to be their go-to chain.

Lot of exchanges are also announcing their support for USDT and USDC, which are the most widely used stablecoins.

The Stablecoins which operate on Algorand benefit from:  Low transaction costs (0.001 Algo), Near-instant settlement (<4.5s), Transaction finality, Robust core security, Simplified user protocols, Easy token issuance or swapping for developers or enterprises, and Universal interoperability of all assets issued on Algorand.

Businesses and institutions are increasingly adopting to the potential of the stable coins.  However, the platforms on which these stable coins were built come with some limitations, which leads to increasing transaction fees related to stable coins on Proof of Work blockchains like Ethereum.

Thus, increased gas price has made it harder for everyday smaller transactions using stablecoins.  Also, the time to complete finalized transactions on PoW networks is as high as 20 minutes.

So, users are left wondering if the transaction will be complete.  This is where Algorand comes in to play:  The Algorand mainnet went live in June 2019. And, ever since they have had zero downtime and the average daily transactions now is running at 750,000 transactions per day and they have handled spike days comfortably with more than 2.5 million transactions during 2020.

Also, the Algorand network is currently handling more than 80 million transactions per day. And, with this scale and 100% uptime robustness, the Algorand platform can be chosen with confidence is what they claim.           

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Thank You,

The TCAT team.