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Tether announced Monday that it is launching its USDT stablecoin on the Aptos Network. The move is part of Tether’s strategy to increase the accessibility and usability of digital currencies globally.

“The Tether team is excited to integrate and collaborate with the Aptos ecosystem, further strengthening our commitment to making digital currencies more accessible and functional,” said Paolo Ardoino, CEO of Tether.

Aptos positions itself as a fast, secure, and interconnected platform for financial transactions, with the ultimate goal of introducing more people to the world of decentralized finance.

As noted in the announcement, Aptos has shown remarkable growth in its ecosystem, with the average number of daily active users increasing from 96,000 in January to 170,000 in July 2024. Furthermore, a record 157 million transactions were processed in a single day in May 2024.

Tether said launching USDT on the Aptos blockchain could broaden the platform’s appeal thanks to Tether’s proven stability and reliability.

Tether will also benefit from Aptos’ cutting-edge blockchain technology, known for its exceptional speed and scalability. Additionally, the integration will benefit from ultra-low gas fees, making transactions economically viable for a wide range of applications.

“Aptos’ innovative technology provides a solid platform for facilitating faster and more cost-effective USDT transactions,” Ardoino added.

Mo Shaikh, CEO of Aptos Labs, is confident that the collaboration will accelerate Aptos’ growth and strengthen its position as a high-performance blockchain platform.

“As a member of the Aptos community, I look forward to seeing how builders in Aptos’ vast ecosystem join forces with Tether and leverage Move on Aptos to push the boundaries of what blockchain technology can achieve for users worldwide,” he noted.

Discussing the launch, Bashar Lazaar, Head of Grants & Ecosystem at Aptos Foundation, said that introducing USDT on Aptos will further enhance the platform’s ability to create real-world value and attract a broader user base.

“The launch of USDT on Aptos accelerates the availability and usability of real value for institutions, Web3 builders, and everyday people worldwide,” said Lazaar.

USDT is the most widely used stablecoin with a market cap of around $117 billion, according to CoinMarketCap data. The stablecoin is live on several popular networks, such as Solana, Ethereum, and TRON.

The upcoming launch of USDT on Aptos follows its recent integration into the Celo blockchain and The Open Network (TON), expanding blockchain coverage and improving user options.

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