OKX, a cryptocurrency platform, has partnered with Tether, the issuer of the world’s most widely used stablecoin, USDT, to carry USDT0 onto X Layer, OKX’s Ethereum Layer 2 community, in addition to to the OKX Wallet and Exchange.
With the brand new integration, OKX users can now deposit and withdraw USDT0 instantly by way of the OKX pockets and Exchange, unlocking entry to unified, composable liquidity throughout the most important decentralized finance (DeFi) ecosystems.
This consists of deeper liquidity throughout networks that assist USDT0, reminiscent of Arbitrum, Optimism, Unichain, Polygon, and Berachain..
Eliminating Friction With Omnichain Transfers
OKX explains that USDT0 is powered by LayerZero’s Omnichain Fungible Token (OFT) normal, which ensures each switch is verifiable and backed 1:1 by canonical USDT. This construction supplies transparency whereas eradicating the complexity of wrapped tokens and bridging options.
The mixing permits quicker settlements, transfers between rollups, and direct liquidity motion between OKX’s centralized alternate and decentralized markets. By bypassing the friction traditionally related to stablecoin transfers, USDT0 seeks to create a extra dependable and environment friendly infrastructure for on-chain finance.
X Layer because the “New Cash Chain”
X Layer is OKX’s devoted Ethereum Layer 2 community designed to join customers and builders to the broader Ethereum ecosystem. It’s totally built-in throughout OKX’s product suite, making certain a streamlined and safe consumer expertise.
Star Xu, founder and CEO of OKX, describes X Layer as “The New Cash Chain and a basis for seamless, secure, and interoperable worth alternate.”
“By partnering with Tether to carry USDT0 to X Layer and different chains throughout the OKX platform, we’re empowering our clients with secure omnichain liquidity throughout the networks they depend on most, whereas bridging centralized and decentralized finance quicker, simpler, and extra intuitively than ever earlier than,” provides Xu.
USDT0’s Fast Progress and Market Affect
In lower than a 12 months since its launch, USDT0 has surpassed $11.3 billion in bridge quantity throughout greater than 251,000 cross-chain transfers, supporting 9 chain pathways. This makes it essentially the most lively OFT throughout the LayerZero ecosystem, highlighting its rising position in DeFi infrastructure.
“Stablecoins have gotten the spine of on-chain finance. With USDT0 dwell on OKX and X Layer, tens of millions of customers and builders can faucet into unified, cross-chain liquidity at scale,” stated Lorenzo R., co-founder of USDT0.
“This enlargement isn’t nearly including extra chains, it’s about eradicating the friction that has held stablecoins again for too lengthy and making USDT immediately usable wherever builders and clients want it most,” provides Lorenzo R.
By integrating USDT0 throughout its Layer 2 community, pockets, and alternate, OKX is positioning itself as a full-stack, multichain infrastructure supplier and strengthening the trail towards mainstream adoption of stablecoins in international finance.
Tether Stablecoin USDT Coming to Bitcoin Blockchain
In August, Tether announced plans to launch USDT on RGB, a next-generation protocol for issuing digital belongings on Bitcoin.
RGB not too long ago reached mainnet with its 0.11.1 launch and is designed to increase Bitcoin’s position past a retailer of worth. By permitting non-public, scalable, and user-controlled issuance of belongings, RGB creates a pathway for stablecoins to exist natively on Bitcoin’s blockchain.
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