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Tether Launches USDT0 Stablecoin with $140B Market Cap for Cross-Chain Transactions via Kraken's Ink Layer 2
Jan 16, 2025, 04:29 PM
Tether has launched its new stablecoin, USDT0, which aims to facilitate cross-chain transactions and enhance liquidity across the crypto ecosystem. The deployment of USDT0 will utilize Kraken’s Ink Layer 2, an Ethereum scaling solution, allowing for seamless transfers of USDT across various blockchains. This initiative is supported by LayerZero's technology for cross-chain bridging. Tether, which has established itself as the largest stable asset globally with a market capitalization nearing $140 billion, continues to expand its influence in the cryptocurrency market. The USDT0 token is designed to operate with a 1:1 backing to Ethereum's USDT, further solidifying Tether's position in the digital currency landscape. Deposits and withdrawals for USDT0 are now enabled on Kraken’s platform, although geographic restrictions apply.
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