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Usha Yadav
Sep 12, 2022
by Usha Yadav

Tether Launched Its USDT Stablecoin On NEAR Blockchain

Tether USDT

Table of contents

  1. Tether Introduces USDT On NEAR
  2. NEAR Foundation Launches $100 Million Venture Capital Fund
On the NEAR Network, Tether Operations Limited has introduced Tether tokens tied to the US dollar (USD). After Ethereum, Solana, Avalanche, Algorand, Polygon, Tron, Omni, EOS, Liquid Network, Kusama, Tezos, and Bitcoin Cash's Standard Ledger Protocol, NEAR is the 13th blockchain to host USDT.

Tether Introduces USDT On NEAR

According to Tether, the introduction of USDT on NEAR will benefit the blockchain network's ecosystem. Currently, 700 projects are being built or are active on NEAR. Now, their users can transfer funds in and out of that ecosystem and generate yield using USDT, according to Tether. As of July, NEAR Foundation reports that the network has been used for 300,000 to 400,000 transactions per day.

NEAR Foundation Launches $100 Million Venture Capital Fund

A $100 million startup capital fund and lab for Web3 were just created by the NEAR Foundation earlier today. Additionally, a working committee was formed to develop guidelines for self-governance. Tether CTO Paolo Ardoino said the NEAR ecosystem experienced unprecedented growth this year. He added that the company thinks Tether would be crucial to its continued success.

Tether, which invented the idea of digital tokens, is now even more firmly established as the most extensively used stablecoin due to this news. The stablecoin is presently operational on Algorand, Avalanche, Ethereum, EOS, Kusama, Liquid Network, Omni, Polygon, Tezos, Tron, Solana, and Statement.

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Tether Near Blockchain USDT Stablecoin
Tether Launched Its USDT Stablecoin On NEAR Blockchain
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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