Tether, the encryption company behind the largest Stablecoin in the world, brings its code worth $ 140 billion to Bitcoin.
At the Plan B conference in San Salvador, pregnancy Paulo Erdino CEO has announced that the merging of USDT into Bitcoin and Lightning is designed to provide “practical solutions for transfers, payments and other financial applications that require both speed and reliability.”
The USDT integration on Bitcoin is a new era for Stablecoins
The USDT, the dollar -backed Stablecoin will completely work completely across the basic layer of bitcoin and the Lightning network, a bitcoin mesh, as the CEO of Tether Paolo Ardoino announced on Thursday at the Bitcoin Conference in El Salvador.
For Tether and Bitcoin, two strong players in the cryptocurrency who have not yet united, monotheism represents a decisive turning point. With the market evaluation of about $ 140 billion, USDT is much more popular stablecoin in the world. It is used by hundreds of millions of people worldwide as a safe way to connect traditional banking services to the cryptocurrency economy.
Bitcoin, on the other hand, is the largest and most influential coin in the world. However, the Bitcoin network was slow to attract users on the series, as it was not initially designed to support decentralized applications.
Specific networks like lightning network have filled this gap, making layer 2 transactions on Bitcoin quickly at reasonable prices and enabling asset integration like USDT in Bitcoin ecosystem.
“Today coincides with a new era for Stablecoins,” said Elizabeth Stark, CEO of Lightning Labs, the main developer of the lightning infrastructure, in a statement on Thursday. Lightning Labs has developed the USDT protocol to merge with Bitcoin.
According to Stark, millions of people will now be able to send dollars worldwide using the most open and safe Blockchain.
The rope faces the increasing scrutinous amid a growing role in global financing
USDT Available on 17 Blockchain network, including Ethereum and Solana. As the encryption currency continues to integrate with the prevailing financing, Stablecoins became more important than ever in linking both sectors. Tether is still the most widely used, providing users with an easy way to store encryption boxes with stable assets linked to the US dollar.
Stablecoins, especially the rope, has become increasingly increasing as its impact on the global economy. On Wednesday, legislator Howard Lottenic, President Donald Trump’s candidate for the Minister of Commerce, asked about his close relationships with Tether, a method of payment used by retail users and criminal institutions.
Lutnick’s Wall Street, Cantor Fitzgerald, currently owns billions of dollars in Tether side assets, which ensure that Stablecoin maintains the dollar. However, no independent agency has yet been fulfilled whether Cantor and Tether accurately show the size of this side reserve.
During the session, Lutnick admitted the need to carry out a comprehensive audit for Stablecoin exporters such as Tether, given the increasing importance to maintaining the stability of these assets.
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