Tether has expanded its presence in the crypto world by introducing its US dollar-pegged stablecoin, USDT, on the Aptos blockchain.
This integration reflects the company's efforts to make digital currencies more accessible and user-friendly globally, according to a press release.
Tether is set to capitalize on the blockchain's high scalability and fast transaction speeds, offering users extremely low gas fees, which are said to be only a fraction of a cent.
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By bringing USDT to the Aptos network, Tether aims to make transaction costs affordable for a wide range of applications, from microtransactions to large-scale enterprise operations.
Paolo Ardoino, CEO of Tether, expressed enthusiasm about the partnership with Aptos, stating:
The team at Tether is excited to integrate and collaborate with the Aptos ecosystem, enhancing our commitment to making digital currencies more accessible and functional.
The press release emphasizes that Aptos has seen significant growth in 2024, with average daily active users increasing from 96,000 in January to 170,000 by July. Additionally, in May 2024, the blockchain reached a milestone by processing 157 million transactions in a single day.
Meanwhile, during the first half of 2024, Tether reportedly made profits of $5.2 billion and had its US Treasury portfolio reach an all-time high of $97.6 billion.
This expansion further strengthens Tether's position in the crypto market, as it continues to use emerging blockchains like Aptos to offer better services to users worldwide.
