Tether Launches USDT on Celo, Promoting Efficiency and Accessibility
Tether, the leading stablecoin issuer, has announced the introduction of its flagship stablecoin, USDT, on Celo. This collaboration aims to leverage the advantages of Celo’s carbon-negative, permissionless network to enhance transaction efficiency and accessibility for decentralized applications (dApps) focused on payments, lending, and other services.
Celo: A Mobile-First Network for Real-World Use Cases
Celo is a mobile-first blockchain network that prioritizes real-world use cases and offers fast and low-cost payments. With a presence in over 150 countries and more than 1,000 projects, Celo aims to create a more inclusive financial system. The network’s carbon-negative status sets it apart by actively contributing to environmental sustainability.
Benefits of Launching USDT on Celo
- The integration of USDT on Celo will allow users to benefit from low sub-cent transaction fees, approximately $0.001 per transaction.
- USDT will join other stable assets on Celo, such as eXOF and cREAL, which are pegged to the CFA Franc and the Brazilian Real respectively.
- Expanding the use cases of stable assets on Celo includes savings, lending, remittances, and cross-border payments.
Paolo Ardoino, CEO of Tether, expressed his commitment to providing accessible and reliable digital currency solutions worldwide. He emphasized that integrating USDT on the Celo platform represents a significant step forward in their mission. By leveraging Celo’s unique capabilities, Tether aims to enhance the usability and accessibility of USDT for millions of people.
Unlocking Accessibility and Utility for Crypto Users
Tether’s partnership with Celo is expected to unlock a new era of accessibility and utility for cryptocurrency users. This collaboration is seen as a major milestone for both Tether and Celo, and it is anticipated to accelerate the adoption and utilization of USDT through innovative projects and services offered by Celo’s ecosystem.
Rene Reinsberg, co-founder and president of Celo and Celo Foundation, highlighted the alignment of this integration with their mission to create a digital economy that fosters prosperity for everyone. The availability of USDT on Celo will provide users with more options for fast, low-cost payments and access to robust stablecoin use cases that benefit individuals worldwide.
USDT: Now Available on 15 Networks
With the introduction of USDT on the Celo blockchain, Tether’s stablecoin is now accessible on 15 networks. These include prominent networks such as Ethereum, Tron, Polygon, Avalanche, and Algorand.
Hot Take: USDT’s Expansion Continues With Celo Integration
The launch of USDT on the Celo network marks another significant milestone in Tether’s efforts to expand its presence across various blockchain ecosystems. By collaborating with Celo, Tether aims to enhance transaction efficiency and accessibility for users engaged in payment-focused dApps.
This integration provides several key benefits:
- Efficient Transactions: Users can enjoy low sub-cent transaction fees, enabling cost-effective transfers on the Celo network.
- Expanded Use Cases: The integration of USDT with other stable assets on Celo broadens its use cases beyond traditional payments, including savings, lending, remittances, and cross-border transactions.
- Increased Accessibility: The availability of USDT on Celo offers users more options for fast and affordable payments, enhancing financial inclusion for individuals globally.
Tether’s partnership with Celo aligns with their shared vision of creating a more inclusive and sustainable financial system. As the adoption of cryptocurrencies continues to grow, collaborations like this will drive innovation and provide users with greater flexibility and utility.
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