Tether launches USDT on EVM-compatible Celo Blockchain

Tether, the largest issuer of stablecoin, USDT, announced the launch of the asset on Celo, a permissionless, carbon-neutral, Ethereum Virtual Machine-compatible network.

According to a statement sent to CryptoPotato, the partnership between Tether and Celo could see USDT become a currency on the network later, streamlining transactions and improving efficiency across decentralized applications (dApps). ) focuses on payments, lending and other services.

USDT will launch on Celo

Celo is the first mobile network designed for real-world use cases and fast, low-cost payments. Blockchain spans over 1,000 projects in over 150 countries. The network's negative carbon status aims to create a more inclusive financial system.

Tether believes that launching USDT on Celo will give users access to a range of benefits, including low sub-cent transaction fees, hovering around 0.001 USD. USDT will join several other stable assets on Celo, including eXOF and cREAL, which are pegged to CFA Franc and Brazilian Real respectively. The integration expands stable asset use cases, including savings, lending, remittances, and cross-border payments.

Paolo Ardoino, CEO of Tether, said: “At Tether, we are committed to providing trusted and accessible digital currency solutions to users around the world. Integrating Tether USDT on the Celo platform, built for the real world, will be an important step forward in our mission.#CELO/USDT