Tether Operations Limited (Tether), the company behind the world’s leading stablecoin, has announced its plans to launch U.S. dollar-pegged Tether tokens (“USD₮”) on the Kava blockchain. This move comes as part of Tether’s strategy to expand its presence and provide its stablecoin services on various blockchain networks.
Kava, a layer-1 blockchain platform renowned for its scalability and speed, was founded in 2018. One of its key differentiating features is its co-chain design, which combines the flexibility of the Ethereum virtual machine with the rapid transaction processing and interoperability offered by the software development kit of Cosmos. By leveraging Cosmos’ “zones” feature within the Kava protocol, users can enjoy the benefits of both ecosystems.
In the previous month, Kava successfully deployed its “Kava 13” mainnet update, enhancing its infrastructure to deliver improved security, scalability, functionality, and speed. This update positions Kava as a highly reliable and efficient blockchain network, making it an ideal choice for Tether’s expansion.
Paolo Ardoino, the Chief Technical Officer at Tether, expressed enthusiasm about the partnership with Kava, stating, “We’re thrilled to be launching USD₮ on Kava, offering its strong community access to the world’s first, most stable, most trusted, and most widely used stablecoin.” Ardoino also highlighted the robust track record of Kava, which has remained free from security issues for the past four years, an essential factor in safeguarding the interests of USD₮ users.
The collaboration between Tether and Kava aims to reshape the future of decentralized finance (DeFi) by fostering a robust and inclusive ecosystem that benefits users worldwide. By combining Tether’s leading stablecoin technology with Kava’s advanced blockchain infrastructure, the two entities are poised to make significant contributions to the DeFi landscape.
Tether’s decision to integrate with Kava further solidifies its position as the most widely adopted stablecoin. Having pioneered the concept of stablecoins in the digital token space, Tether has expanded its reach across various prominent blockchain networks, including Ethereum, Solana, Algorand, EOS, Liquid Network, Omni, and Tron.
It is important to note that this announcement does not constitute an offer to sell or the solicitation of an offer to buy USD₮. Tether Limited and Tether International Limited will sell or redeem USD₮ in accordance with the terms of service available on the official Tether website.
As Tether continues to innovate and expand its services, the addition of Kava to its network ecosystem marks a significant milestone. Users of the Kava blockchain can now enjoy the benefits of Tether’s stablecoin technology, bringing stability and efficiency to their decentralized financial activities. With this latest collaboration, Tether solidifies its commitment to revolutionizing the digital currency landscape and providing users with trusted and accessible financial solutions.
For more information, please visit Tether’s official website at https://tether.to/en/legal
About Tether: Tether is the world’s first and most widely used stablecoin, offering a secure and reliable medium of exchange for digital assets. Each Tether token is backed by a reserve of fiat currency, ensuring stability and facilitating seamless transactions. With a proven track record and widespread adoption, Tether continues to lead the way in the stablecoin space.
About Cosmos: Cosmos is a prominent blockchain ecosystem known for its software development kit (SDK) that enables the creation of interoperable and scalable blockchain applications. It provides a framework for building independent, sovereign blockchains, or “zones,” that can communicate and transact with each other through the Cosmos Hub. With a focus on speed, security, and low transaction fees, Cosmos has garnered a strong following within the crypto community.
About Kava: Kava is a layer-1 blockchain platform designed to provide scalability, speed, and interoperability. Its unique co-chain architecture combines the best features of the Ethereum virtual machine and the Cosmos software development kit. Kava aims to deliver a robust and inclusive DeFi ecosystem, empowering users worldwide.
