Tokens based on Polkadot have been released by the largest stablecoin, Tether (USDT). Polkadot is one of the most well-liked ecosystems on which Web3 applications are based, according to the USDT issuer in a statement.
Tether chose to launch stablecoins on this blockchain to provide their users more control.
The introduction of USDT on Polkadot, in Paolo Arduino's opinion, will aid network expansion.
He observed: "We are thrilled to introduce USDT and give the public access to the most dependable and liquid coin. This year, Polkadot has grown well, and we think that Tether's introduction will help it continue to develop."
On September 26, USDT had a capitalization of around $70 billion.
The leader among digital currencies with financial backing is still this stablecoin. Its nearest rival, USDC, has a bid that is slightly over $49.381 billion.
On more than 10 blockchains, including Kusama, Ethereum, Solana, Algorand, Tron, Omni, and NEAR, Tether has launched coins.