Source: Coinspeaker
25 1

Tether Partners with Kraken’s Ink to Launch Cross-chain USDT0 Stablecoin

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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.

Original publication

Authors credited by the source: Chimamanda U. Martha

Published by Holder based on an external source.