ZEAL
USDT expands to new mobile-focused network
Celo is a network compatible with Ethereum and aimed at fast and low-cost payments, especially in mobile applications.
By Fernando ClementĂn March 11, 2024 Reading time: 3 minutes
USDT will be one of several stablecoins offered on Celo. Source: Andreas Prott / Adobe Stock
USDT will be one of several stablecoins offered on Celo. Source: Andreas Prott / Adobe Stock
Key facts:
USDT dominates 70% of the stablecoin market and exceeds 100 billion in capitalization.
Celo uses thin clients, ideal for running on low-performance devices.
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The company that issues the most used stablecoin in the world, Tether, revealed the expansion of USDT to the Celo network, focused on fast and low-cost payments in mobile applications. Tether, the leader with 70% of the stablecoin market, takes advantage of Celo's compatibility with Ethereum to expand its accessibility to various types of devices around the world.
Celo is a network known for its use of infrastructure designed for low-resource devices, such as mobile phones. Its main objective is to provide a platform suitable for the execution of decentralized applications (dApps) and fast payments, with commissions close to USD 0.005 at the time of writing this note, according to the project's official website.
