June 6, 2023

Tether launches USDT on Algorand blockchain

Tether launches USDT on Algorand blockchain

According to a February 10 press release, Tether launched the stablecoin USDT on the Algorand blockchain.

In a statement it is indicated that the time to confirm a USDT transaction on Algorand will be only 4 seconds, and the commission fees will be only a fraction of a percent. Tether's chief technology officer said:

We use all the advantages of the Algorand protocol so that traders can exchange fiat for digital currencies faster and safer.

Tether is the first stablecoin on the Algorand blockchain. Earlier, USDT was already released on platforms such as Ethereum, EOS, the Liquid Network, Omni and Tron (TRX).

Stable coins are increasingly being accepted inas a means of payment. Recently it was reported that the Travala hotel reservation service has started accepting payments in stable USDT currency. The world's largest porn site Pornhub has also added USDT as a payment method.

According to the materials cointelegraph.com