Tether Partners with Kraken’s Ink to Launch Cross-chain USDT0 Stablecoin
Tether has partnered with Ink, a layer-2 network by Kraken, to launch its new omnichain stablecoin, USDT0. This stablecoin aims to improve interoperability and unify liquidity across multiple blockchains.
Key details include:
- USDT0 is deployed exclusively on Ink and available for trading on Kraken starting at 15:00 UTC.
- Users can deposit and withdraw once the stablecoin goes live.
- USDT0 is built on LayerZero’s Omnichain Fungible Token (OFT) standard for secure cross-chain transfers.
- The token is fully backed 1:1 with USDT locked on Ethereum.
Comments from Stakeholders
Andrew Koller, founder of Ink, stated that this partnership marks a transformative moment for stablecoin liquidity. Tether's CEO, Paolo Ardoino, highlighted USDT0 as a solution for seamless asset movement across ecosystems.
Future Plans
Tether plans to expand USDT0 to additional blockchains, including Berachain and MegaETH, enhancing efficiency and interoperability in the digital asset space.