- Tether has set up USDT on Aptos Blockchain to leverage its speed and scalability.
- The integration offers extremely reduced gas fees, making transactions cost-effective.
Tether Operations Limited, an influential digital assets company, proposes the release of USD-pegged Tether tokens (USDT) on the Aptos Network. This initiative intends to increase the accessibility and utility of digital currencies by leveraging Aptos’ superior blockchain infrastructure, which is renowned for its speed and scalability.
The Aptos Network has had extraordinary development, with daily active users increasing from 96,000 in January to 170,000 in July 2024. A record-breaking 157 million transactions were handled in a single day in May 2024, demonstrating the network’s flexibility. Tether’s integration into this ecosystem is intended to capitalize on these advantages, providing users with the benefits of Tether’s reliable digital currency on a highly efficient platform.
Tether Collaboration Enhances Global Accessibility
The debut of USDT on Aptos offers significant cost savings with incredibly low gas fees, costing only a fraction of a penny each transaction. This capability makes it economically viable for a wide range of applications, including microtransactions and large-scale company operations.
Tether’s CEO, Paolo Ardoino, expressed delight about the relationship, citing Aptos’ unique technology as a crucial enabler for faster and more cost-effective transactions. Mo Shaikh, CEO of Aptos Labs, termed the integration as a network milestone, expecting it to expand the frontiers of blockchain technology for worldwide consumers.
This collaborative alliance between Tether and Aptos is intended to set new blockchain standards by combining Tether’s reliability with Aptos’ technological capabilities to improve speed, cost-efficiency, and global access.
Meanwhile, in July, Nansen collaborated with the Aptos Foundation to improve on-chain data and analytics for the Aptos ecosystem. Bashar Lazaar of Aptos made the following statement: “Bringing top data providers into Aptos will help builders and projects leverage on-chain data, driving value for their communities.”