Tether to Launch USDT on Aptos Blockchain

Leading stablecoin issuer Tether has announced its plan to launch its flagship product, USDT, on the layer-1 Aptos blockchain. The integration will allow USDT to tap into a blockchain offering “extremely low” gas fees.

USDT to Enter Aptos

Aptos describes itself as the world’s most production-ready blockchain, and the self-promotion may stem from the network’s capabilities. The L1 blockchain, using the proof of stake consensus mechanism, boasts a throughput of over 30,000 transactions per second (TPS) and has zero outages.

This past weekend, Aptos processed over 326 million transactions in a single day, marking a new high in its history. Tapos Cat, a popular clicker game on the blockchain, triggered this meteoric surge. In recent weeks, the tap-to-earn game has driven the network’s increasing on-chain activities.

With Tether’s USDT entering the Aptos network, the network is expected to see more on-chain engagements. The U.S. dollar-pegged stablecoin will harness Aptos’ scalability to offer developers and users fast transaction settlements at low cost.

Commenting on how the integration will positively impact both blockchain teams, Aptos Labs’ CEO Mo Shaikh said:

“This collaboration will leverage Aptos’ capability to process massive volumes and rapidly grow its 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 [programming language] on Aptos to push the boundaries of what blockchain technology can achieve for users globally.”

USDT recently launched on the Telegram-affiliated network The Open Network (TON). By embracing Aptos, Tether now has its flagship stablecoin available on about 17 blockchain networks.

APT Price Goes Up

Following the news about USDT’s integration with the Aptos mainnet, APT jumped to as high as $6.01. Within the past 24 hours, the coin had tanked to a depth of $5.75. At the time of writing, APT sold for $5.95.

Source: CoinStats