Tether’s USDT to Launch on Kusama With Polkadot to Follow

It’s slated to become the first stablecoin to launch on Polkadot.

AccessTimeIconApr 6, 2021 at 10:00 a.m. UTC
Updated Sep 14, 2021 at 12:36 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Tether is set to go live on Polkadot following a launch on the network’s cousin, Kusama.

  • The aim is for USDT to be the first-ever stablecoin on the Polkadot network, according to an announcement Tuesday.
  • Polkadot is a network that supports various interconnected blockchains called parachains. It is set to go fully live later this year.
  • Polkadot’s DOT token is currently the fourth-largest cryptocurrency by market cap, according to CoinGecko.
  • Kusama launched in 2019 as a pre-production environment to Polkadot, known as a “canary network.”
  • Tether is the world’s largest stablecoin with a market capitalization of over $40 billion.
  • It recently launched on its eighth blockchain, Solana.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.