A few hours after launching the MXNT, Terra has announced the launching of USDT on the Polygon network. The development further emphasizes the commitment of the Terra team toward expanding its horizon.
According to the CTO of Tether, Paolo Ardiono, the collaboration will help the USDT token grow. He expressed his delight over the launching of the USDT on Polygon. Ardiono further established that the development will give people more access to the token while increasing its community.
In addition, the CTO further heaped praises on the Polygon Ecosystem, citing how it has grown within the year. Since its inception, Polygon has successfully initiated over 1.6 billion transactions while securing more than $5 billion in assets. Hosting more than 142 million wallets, Polygon has grown into a force to reckon with over time.
Also, the team has developed various game-changing innovations in the cryptocurrency and fintech sectors. Part of the innovations includes Polygon Supernets, Polygon Avail, and Polygon PoS. The team is leading the charge towards the embracement of Web3 with its Zero-knowledge technology. The firm’s contribution to community and technological development birthed the recent investment of $20 million towards that course.
Positive expectations on USDT integration into Polygon
Meanwhile, the inclusion of USDT on the Polygon network will open the window for over 8,000 teams to use the token. Thus, helping to gain stability while traders will enjoy the privilege to transfer their returns between different systems. However, the inclusion will further grow the existing 19,000 dApps within the Polygon ecosystem.
Furthermore, the USDT stablecoin has enjoyed a massive-growth since its introduction in 2014, and the latest development with Polygon marks a step-forward. The USDT is currently the biggest stablecoin and the third-biggest crypto with a market cap of over $75 billion. Currently, the USDT sits behind Bitcoin and Ethereum on the all-time largest crypto market. Nevertheless, it has overtly emerged as the token with the largest daily transaction volume, notably above Bitcoin.
Lastly, the recent development comes in line with the Tether team to expand across various markets. The team owns a crop of stablecoins that consist of USDT, MXNT, EURT, XAUt and CNHT.