In an announcement on Sep 12, Tether said it has officially launched stablecoin USDT on Near Network. Thus, Near is the 13th blockchain that Tether has chosen to release USDT. The stablecoin USDT was previously launched on Ethereum, Solana, Avalanche, Algorand, Polygon, TRON, Omni, EOS, Liquid Network, Kusama, Tezos, and Bitcoin Cash.
According to Tether, the launch of USDT on Near will bring many benefits to its ecosystem. There are currently about 700 projects building or launching on Near Network. Near users can now use USDT to transfer out or into the ecosystem, benefiting both sides.
Tether CTO Paolo Ardoino commented: “We are excited to launch USDT on Near, offering its community access to the first, most stable, and trusted stablecoin in the digital token space. The NEAR ecosystem has witnessed historic growth this year and we believe Tether will be essential in helping it continue to thrive”.
This news was announced just hours after news that Near Protocol unveiled a $100M VC fund targeting Web3 culture and entertainment. Near is also launching its biggest event of the year, NEAR CON BETA, which is being held in the Portuguese capital Lisbon from 11-14 September 2022.
Thanks to positive news, NEAR has surged by more than 10% over the past 24 hours. At the time of writing, it is trading around $5.22.
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