Tether (USDT), the largest dollar-linked stablecoin by market capitalization.over 80 billion dollars It is being launched on Kusama, the parallel blockchains that act as Polkadot’s “canary network.”
Peter Mauric, head of public relations at Parity Technologies, the developer of Polkadot, said the addition of USDT was a significant step for Kusama as it would be a later goal for Polkadot, as access and interoperability are overarching goals of the two networks, both of which they are affiliated with. The network already has a Parachain.
“Creators and institutions have a passion for the technology and products they come in contact with. And there are many options within the crypto ecosystem,” Mauric said in a Telegram message. “The use of Tether on Kusama is a clear indication of the interest in providing creators in the Polkadot ecosystem alongside options. Polkadot-native that is being launched as well.”
Major protocol upgrades and other innovations will always come first in the Kusama network, before they appear in the Polkadot ecosystem. The network is named after polkadot-inspired artist Yayoi Kusama.
Stablecoin will drive transactions on Kusama’s Statemine (equivalent to the Statemint parachain on Polkadot), the so-called “public good parachain,” which is required for asset deployment and balancing of fungible tokens and NFTs.
Tether’s USDT also works on Ethereum, Solana, Algorand, EOS, Liquid Network, Omni, Tron and the Standard Ledger Protocol of Bitcoin Cash, with Polkadot joining soon after Kusama.
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