Tether Launches on NEAR Network: Could Solidify the DeFi Ecosystem

• Tether operation limited launches Tether (USDT) on NEAR ecosystem
• Paolo Ardoino said that Tether on NEAR will offer its community access to a trusted stablecoin.
• NEAR has champion initiatives that bring greater stability to the DeFi ecosystem, says Flament.

Tether operation limited launches Tether (USDT) on NEAR ecosystem Paolo Ardoino said that Tether on NEAR will offer its community access to a trusted stablecoin. NEAR has champion initiatives that bring greater stability to the DeFi ecosystem, says Flament

Tether operations limited, the company that powers the largest stablecoin by market cap, announced that it has launched Tether(USDT) on Near Network.

NEAR, a smart contract-capable blockchain which is designed to provide the ideal environment for dapps, processed about 300,000 to 400,000 transactions per day on NEAR Network. 

Tether’s CTO, Paolo Ardoino, shared his thought about the launch of USDT on NEAR network,

We’re excited to launch USD₮ on NEAR, offering its community access to the first, most stable, and trusted stablecoin in the digital token space,

Further, speaking about the partnership Ardoino revealed the exponential growth that NEAR ecosystems has had in the past, this collaboration with Tether will help it thrive in the future.

With this announcement, the stablecoin will be further available in 13 blockchain networks. Moreover, this announcement solidifies Tether as the trusted go-to coin in the digital space.

Marieke Flament, CEO of NEAR Foundation said:

We champion initiatives that can bring greater stability to the DeFi ecosystem and help us advance the mass adoption of Web3

The championing initiatives of NEAR has a network which just hit a milestone of 700+ projects, as per the twitter post shared by NEAR.