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.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.