Ethereum

Celo

2024

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Leading stablecoin issuer Tether is set to introduce its USDT token on the Celo blockchain, an Ethereum Virtual Machine-compatible platform transitioning to an Ethereum Layer 2 network.
While the launch date remains unspecified, a <a href="https://crypto.news/tag/tether/" rel="noopener noreferrer nofollow">Tether</a> spokesperson <a href="https://tether.to/en/tether-token-usdt-to-launch-on-celo/" target="_blank" rel="noopener noreferrer nofollow">confirmed</a> it would occur soon. The listing marks another expansion for USDT, which is already present on multiple blockchains such as Ethereum (<a href="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>), Solana (<a href="https://crypto.news/price/solana/" rel="noopener noreferrer nofollow">SOL</a>), and Polygon (<a href="https://crypto.news/price/polygon/" rel="noopener noreferrer nofollow">MATIC</a>).
Tether previously ceased support for specific networks due to low demand but continues redemptions until the specified deadline.
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 Tether Token (USDT) to Launch on <a href="https://twitter.com/Celo?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Celo</a> Read more: <a href="https://t.co/KJ5emdMmXl" target="_blank" rel="noopener noreferrer nofollow">https://t.co/KJ5emdMmXl</a> <a href="https://t.co/yTDkzKnhev" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/yTDkzKnhev</a>— Tether (@Tether_to) <a href="https://twitter.com/Tether_to/status/1767175933062980089?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">March 11, 2024</a>
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Established in 2020, <a href="https://crypto.news/tag/celo/" rel="noopener noreferrer nofollow">Celo</a> aims to simplify mobile payments by linking phone numbers with crypto wallet addresses and offering low transaction fees. According to Celo co-founder Rene Reinsberg, the upcoming availability of USDT on Celo is anticipated to enhance payment options and stablecoin applications for users globally.
Tether’s integration will complement Celo’s existing stable assets and could be utilized for various financial activities, including remittances and lending.
Plans are also being made to propose <a href="https://crypto.news/tag/usdt/" rel="noopener noreferrer nofollow">USDT</a> as a gas currency to facilitate transactions in decentralized apps within the Celo ecosystem. This action coincides with Tether’s USDT circulating supply exceeding <a href="https://crypto.news/tether-usdt-stablecoin-record/" rel="noopener noreferrer nofollow">102 billion</a>, with its total supply, including authorized but not issued tokens, surpassing 108 billion.
Read more: <a href="https://crypto.news/tether-announces-usdt-migration-tool-in-a-bid-to-safeguard-against-blockchain-network-failures/" rel="noopener noreferrer nofollow"> Tether announces USDT migration tool in a bid to safeguard against blockchain network failures </a>

Tether to launch USDT on Celo blockchain

crypto.news

Other articles published on Mar 11, 2024

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