- Tether has opted out of launching its blockchain, noting the existing abundance of capable platforms.
- CEO Paolo Ardoino believes focusing on Tether’s core services on existing blockchains remains most strategic.
- Tether continues to expand USDT’s reach, most recently integrating with the Aptos blockchain.
Tether, known for issuing USDT, the world’s largest stablecoin, has decided not to pursue the creation of its blockchain, a strategic move influenced by the already saturated market of existing blockchain technologies. In recent statements, CEO Paolo Ardoino highlighted the company’s decision to focus on leveraging existing blockchain infrastructures rather than adding another to the mix.
Strategic Focus on Core Services
In discussions with Bloomberg News and during a YouTube interview on Unlock Blockchain, Ardoino elaborated on the company’s strategy, emphasizing the strength and capabilities of current blockchains. Tether aims to remain blockchain-agnostic, ensuring that USDT can operate efficiently across various platforms without being tied to a proprietary blockchain.
This decision underscores Tether’s commitment to maintaining and enhancing the functionality and security of USDT transactions by utilizing established blockchains, which serve as robust transport layers for the stablecoin.
Leveraging Existing Blockchain Technologies
The choice to forgo a proprietary blockchain does not slow Tether’s momentum in exploring new technological frontiers. On August 19, the company announced the launch of USDT on the Aptos blockchain, aiming to capitalize on Aptos’ high transaction speeds and scalability. This integration is designed to reduce transaction costs significantly, benefiting Tether’s wide user base.
The integration with Aptos, which recently reported a record-breaking 157 million transactions in a single day, represents Tether’s ongoing effort to enhance the accessibility and efficiency of digital currency transactions globally. By aligning with high-performance blockchains, Tether ensures that USDT remains a leading stablecoin in the crypto market, reinforcing its pioneering role since creating the stablecoin sector in 2014.
