Tether Operations Limited announced the support of another blockchain – Polkadot. It became the 14th network in which the stablecoin operates.
Tether Tokens (USD₮) Live on Polkadot https://t.co/992OGgM2Nu pic.twitter.com/DOmYTPl5QZ
— Tether (@tether_to) September 23, 2022
“The addition of Tether to the Polkadot ecosystem is another major milestone […]. This will mitigate the potential adverse effects associated with market volatility,” the statement said.
Recall that Tether stablecoin also works on Algorand, Avalanche, Simple Ledger Protocol, Ethereum, EOS, Kusama, Liquid Network, Polygon, Tezos, Tron, Solana and Statemine.
The company recently announced on the launch of USDT on the NEAR network.
Prior to this, Polkadot developers introduced XCM cross-chain solutionwhich provides communication between various parallel blockchains in the ecosystem.
Recall that in June the project team announced plans change the management structure to increase decentralization and throughput of the decision-making system.