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Tether Expressed: We’re pleased to announce the launch of Tether tokens (USDT) on Avalanche.
USDT holders can now use the Avalanche network to send Tether USDT to experience low transaction fees that are fractions of a cent.
Emin Gün Sirer expressed that the USDT’s launch on Avalanche is “an essential building block for DeFi users.”
Emin previously expressed that the first sign of mainstream success for crypto will be when a stable coin overtakes bitcoin to become the leading digital currency.
Reportedly, USDT has seen a strong growth this year in parallel to the crypto market’s rally this year.
This launch is happening at a point in time when the Avalanche’s ecosystem is growing at a rapid pace. The total value locked (TVL) in Avalanche-based DeFi protocols is increasing than ever before.
USDT on Avalanche is expected to further boost the growth of AVAX in the DeFi Sector as stable coins might play an essential role in the DeFi market. Traders might use stable coins to swap tokens and to lend them out to earn high yields from DeFi platforms.
Community Response: Ready to Serve. Does this mean we can send USDT straight to Coinbase/FTX for fiat off-ramp straight from Avalanche? No more bridging/converting 3 times?
Time to get rid of those Tron transfers. AVAX Tether transfers will be the norm. By the way how do you call ERC-20 tokens on Avalanche? ARC-20?
This will speed up the C-Chain adoption massively.
Beautiful alliteration as tether will cause the avalanche in prices of all crypto when it’s fraudulent bubble pops? Legitimate concern of mine, I honestly agree. Can’t wait for it though as I’m going to have a lot of UST stacked by that point ready to capitalize.
Why would anyone care about a centralized stable coin that is about to have regulatory issues when there is UST, which is UNSTOPPABLE, DECENTRALIZED, perfectly STABLE and will be used on every chain and be the backbone of DeFi for the planet.
I strongly believe that Avalanche need UST. The best decentralized money that is interoperable should be a TOP priority vs centralized stable coins.
But don’t we already have UST on Avalanche? It is bridge token. This is native one.
Great news. I was tired of transferring AVAX and swapping it with USDT.
Weren’t you one of the people who used to argue that tether was a fraud business? This is how the opaque criminals silence their critics.
