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USD₮ Expands to Kava
In an exciting development, Tether Operations Limited (Tether) has revealed its plans to launch USD₮ tokens, the pioneering stablecoin, on the Kava platform. Kava, a layer-1 blockchain designed for enhanced scalability and speed, offers an ideal foundation for Tether's dollar-pegged tokens.
Established in 2018, the Kava network sets itself apart with its innovative co-chain design, combining the flexibility of the Ethereum virtual machine with the fast transaction processing, low fees, and interoperability of Cosmos' software development kit.
This unique architecture empowers users to leverage Cosmos' "zones" feature within the Kava protocol. Last month, Kava made headlines with the successful deployment of its "Kava 13" mainnet update, reinforcing its infrastructure for improved security, scalability, functionality, and speed.
"We are delighted to introduce USD₮ on the Kava network, granting its vibrant community access to the world's first, most stable, trusted, and widely adopted stablecoin. Kava boasts an exceptional track record of four years without any security issues, which is vital for safeguarding USD₮ users. Together, we aspire to reshape the future of decentralized finance, fostering a resilient and inclusive ecosystem that benefits users worldwide", stated Paolo Ardoino, CTO at Tether, who expressed enthusiasm about the partnership.
This collaboration further solidifies Tether's position as the leading stablecoin, having pioneered the concept within the digital token landscape. Tether has already achieved live integration across multiple networks, including Ethereum, Solana, Algorand, EOS, Liquid Network, Omni, and Tron.
What is Tether:
Tether is the most widely adopted coin in circulation. USDT was the first-ever stablecoin introduced to the market. It is designed to peg its issued coin 1-to-1 with the Dollar. Tether was one of the first stablecoins issued in several blockchains, available on the Tron, ETH, Omni, EOS, Algorand, Solana, and the Binance Smart Chain (BSC) networks. It has received mass adoption as the reserve currency for most traders as it doesn’t fluctuate like typical crypto coins.
Learn more about Tether:
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