Tether (USDT), the world's largest stablecoin by market value, will be available on the mobile-focused layer-1 platform Celo. This integration aims to improve cross-border payments and peer-to-peer transactions, especially in developing regions.
Currently migrating from a standalone blockchain to a new layer-2 on top of Ethereum, Celo is a mobile-first network that claims to offer multiple stable assets to users worldwide. However, it primarily targets emerging markets.
The integration of USDT into Celo will expand the uses of fixed assets currently available in Celo.
A forum focused on the Celo community will propose the use of USDT as a transaction fee currency. This move is expected to make transactions within decentralized applications (dApps) more efficient.
Tether CEO Paolo Ardoino expressed his excitement about the integration. “The integration of Tether USDT into the Celo platform built for the real world will be a significant step forward in our mission. By leveraging Celo's unique capabilities, we can further increase the usability and accessibility of Tether for millions of people,” he said.
*This is not investment advice.