Tether Expands $USDT to Aptos Blockchain for Near-Zero Fees

• On August 19, Tether announced its stablecoin $USDT will launch on the Aptos blockchain.
• The integration of $USDT on Aptos will allow for lower transaction fees.
• The Aptos blockchain has shown significant growth in 2024 as its total value locked (TVL) has recently surpassed $370M.

Tether announced on Monday that its $USDT stablecoin will launch on the Aptos blockchain to lower transaction fees. Read on to discover more about the integration and what it means for the Aptos ecosystem.

Make Transactions More Economically Viable

$USDT is a stablecoin pegged to the US dollar. This means that one $USDT aims to be equal to one USD.

According to its press release, the launch is part of Tether's broader plan to make crypto more useful, convenient, and accessible. Aptos' blockchain technology offersexceptional scalability and speed, aligning with Tether's objective.

The integration of $USDT on Aptos could provide users with extremely low gas fees, costing only a fraction of a penny'.

Potential of Aptos

According to Artemis Terminal, the Aptos blockchain has shown growth across a range of metrics this year. Aptos' average daily active users (DAU) surged from 96K in January to 170K in July.

Additionally, a record-breaking 157 million transactions were processed in a single day in May 2024.Tether

Tether CEO Paolo Ardoino highlighted that Aptos' advanced technology will facilitate faster and more cost-effective transactions' with $USDT. The collaboration marks a significant milestone for Aptos, as the integration of $USDT will expand the blockchain's user base.

As a member of the Aptos community, I'm looking forward to seeing builders across Aptos' hefty ecosystem combine strengths with Tether and leverage Move on Aptos to push the boundaries of what blockchain technology can achieve for users globally.Mo Shaikh, CEO of Aptos Labs

In July, the multichain analytics platform Nansen partnered with Aptos to bring its on-chain data and analytics to Aptos' ecosystem.

Moving Forward

With the new integration, Aptos' blockchain technology will enable more cost-effective transactions in $USDT. Will the collaboration significantly expand Aptos' user base? We'll have to wait and see.

References

• Tether (USD) To Launch on Aptos Blockchain (Tether)
• Aptos Metric Comparison (Artemis Terminal)
• Nansen Partners with Aptos to Elevate Onchain Analytics in the Aptos Ecosystem (Nasen)

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