The first Stablecoin (DOT) cryptocurrency to run on the Polkadot network was announced by Tether (USDT). According to Tether’s CTO, Paolo Ardoino, in the electronic markets market capitalization is ready to launch stablecoins through the Kusama (KSM) canary network, and then later Polkadot.

“We’re excited to launch USDT on Polkadot, offering its growing and vibrant community access to the most liquid, stable and trusted stablecoin in the digital token space.

Polkadot is one of the most exciting projects in the digital token ecosystem and we anticipate a ready uptake of the Tether token as it powers Polkadot’s emerging DeFi (decentralized finance) ecosystem. Polkadot, with its parachain structure, has the ability to grow significantly in the coming years. This growth will be driven by its high level of scalability.”

USDT is as of now accessible on a few blockchains – Algorand, Bitcoin Cash’s Simple Ledger Protocol (SLP), Ethereum, EOS, Liquid Network, Omni, Tron and Solana. The transition to Polkadot will be the first run through it’s always been on a multichain network.

“Teams building decentralized applications in with a multi-chain future in mind are increasingly looking towards established stablecoins that operate across numerous networks to ensure a smooth experience for their users. The launch of USDT on Kusama and Polkadot is a crucial step in achieving that vision, where developers will be able to seamlessly compose trustless applications across chains, networks, and communities,” said by Paul Maurtic, the developers behind Polkadot

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