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Tether ($USDT), the world's largest stablecoin by market value, will be available on the mobile-focused layer-1 platform Celo. This integration aims to improve cross-border payments and peer-to-peer transactions, especially in developing regions.
Currently migrating from a standalone blockchain to a new layer-2 on top of Ethereum, Celo is a mobile-first network that claims to offer multiple stable assets to users worldwide. However, it primarily targets emerging markets.
The integration of $USDT into Celo will expand the uses of fixed assets currently available in Celo.
A forum focused on the Celo community will propose the use of $USDT as a transaction fee currency. This move is expected to make transactions within decentralized applications (dApps) more efficient.
Tether CEO Paolo Ardoino expressed his excitement about the integration. “The integration of Tether $USDT into the Celo platform built for the real world will be a significant step forward in our mission. By leveraging Celo's unique capabilities, we can further increase the usability and accessibility of Tether for millions of people,” he said.
*This is not investment advice.