•Tether, the company behind the popular stablecoin USDT, announced the announcement. announced a strategic alliance with rhino.fi, a platform formerly known as DeversiFi. Which initially originated from Ethfinex. This partnership is set to enhance liquidity for rhino.fi's bridging solution. This represents a crucial step in the evolution of cross-chain transactions.

•Partnership background and development Rhino.fi has its origins in Ethfinex. It is an entity closely linked to Tether and its parent company Digfinex. Ethfinex's journey began as a project to create a decentralized trading platform. Which later evolved into DeversiFi after a management takeover. Despite the structural changes. Relations between DeversiFi (now known as rhino.fi) and Bitfinex remained intact. They often collaborate on various blockchain and cryptocurrency initiatives.

•One notable collaboration was the integration of Tether into DeversiFi's layer 2 decentralized trading platform. This integration served as a precursor to rhino.fi's broader goals of facilitating seamless transactions across diverse tokens and multiple blockchain networks. The rebranding to rhino.fi represents the platform’s ambition to enable more comprehensive and efficient cross-chain transactions, including those involving Tether.

•Rhino.fi boosts cross-chain transactions using Tether The strategic alliance between Tether and rhino.fi is expected to significantly boost liquidity on the latter's platform. This improvement is crucial to rhino.fi's ambition of providing efficient and accessible cross-chain transactions. Tether's USDT presence on the platform is set to play a pivotal role. Due to the widespread use and acceptance of USDT in the cryptocurrency market.

•This partnership arrived when Tether faced scrutiny after a UN report implicated USDT in several illicit activities. Including money laundering and “pig slaughter” fraud in Southeast Asia. Despite these challenges, Tether remains a major player in the stablecoin market. This new alliance with rhino.fi could strengthen its role in the evolving cryptocurrency landscape.

•Rhino.fi is led by William Harbourne. Its connection to Tether and Bitfinex is through Christopher Harborne, a major shareholder in Tether's parent company, Digfinex. It emphasizes the intertwined relationships within the cryptocurrency sector. He played Christopher Harborne, known for his political involvement and financial contributions. A role in overcoming the banking challenges that Bitfinex and Tether have faced in the past.

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