Tether’s USDT stablecoin is now available on Polygon.

After Ethereum, Solana, Avalanche, Algorand, Tron, Omni, EOS, Liquid Network, Kusama, and Bitcoin Cash’s Standard Ledger Protocol, Polygon will be the 11th blockchain on which USDT will be available.

The debut of USDT on Polygon, according to Tether, will help the blockchain network’s ecosystem scale and reach new users. More users can now use USDT to move money in and out of the ecosystem while producing income, thanks to the more than 19,000 decentralized applications operating on Polygon, according to Tether.

Although USDT is available on a variety of chains, it is most commonly used on Ethereum and Tron, as shown in the graph below.

Source: The Block’s Data Dashboard.

The blockchain (Tron) is cheaper and faster than Ethereum, which is one of the key reasons for USDT’s adoption of Tron. Traders on Tron prefer USDT to move money between platforms. However, if traders prefer items that are part of the Ethereum ecosystem, they may move to Polygon.

Tether has stated that it intends to release USDT on additional blockchains. As part of its push across Latin America, the company debuted a Mexican peso-pegged stable coin earlier this week.

As written by Niranjan Duguta

About Anypad

Anypad is a next-generation blockchain Incubator and accelerator platform building a Multi-chain LaunchPad, Multi-chain AMM DEX, and Blockchain Game, Star Strike. Anypad would give crypto & blockchain startups & investors the best experience as the industry gains full-scale global adoption. Anypad is dedicated to incubating and accelerating the best and most innovative micro-cap blockchain projects, allowing blockchain startups to grow and raise funds seamlessly.

For more information about Anypad, please visit

Website Telegram chat Twitter Medium YouTube

Stay Connected!!!

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
AnyPad

AnyPad

A next-generation Incubator building a decentralized Multi-chain IDO LaunchPad and Multi-chain AMM DEX on BSC & HECO Chain