Tether Integrates USDT with Bitcoin Network to Enhance Web3 Economy
Tether Limited Inc has integrated its USDT stablecoin with the Bitcoin ecosystem, including both the base layer and the Lightning Network. This collaboration with Taproot Assets enables seamless transfers over the Lightning Network at a reduced cost.
Key points:
- Tether's integration reinforces Bitcoin's decentralization and security principles.
- The market cap of Tether's USDT is approximately $139 billion, with a 24-hour trading volume around $64 billion.
- The integration is expected to enhance Bitcoin’s DeFi ecosystem, which currently has about $7.2 billion in total value locked.
- Over 768,000 daily active addresses on Bitcoin will benefit from USDT’s integration.
- The move may positively impact Tether’s revenues and El Salvador's economic strategy involving Bitcoin as legal tender.
The launch of USDT on Bitcoin aims to facilitate remittances, payments, and other financial applications requiring speed and reliability.