Tether’s USDT Now Operates on Polygon

by in Cryptocurrency News

Tether Polygon

The third largest crypto and the largest stablecoin USDT now operates on the Ethereum scaling solution, Polygon in addition to other blockchains, including Ethereum, EOS, and others. The Polygon team published a blog post that says the network's DeFi space will benefit greatly from USDT, which reflects the price of the dollar.

Related: Switzerland's Lugano City to Allow Crypto Tax Payments via Tether

With the Polygon integration, the coin will reduce volatility and allow investors to use a major stable digital currency to receive returns and move tokens across the network apps.

Paolo Ardoino, Tether’s CTO said the team is excited to bring USDT to Polygon, which supports around 19,000 decentralized apps. He mentioned the significant growth of Polygon, saying they believe USDT will help the network evolve.

Tether is the third-largest crypto after BTC and Ether with a market cap over $72 bln. Recently, the company issued a new stablecoin. Named MXN₮, the coin is pegged to the Peso.