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OKX Teams Up With Tether to Bring USDT0 to X Layer, Wallet and Exchange

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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 straight by way of the OKX pockets and Exchange, unlocking entry to unified, composable liquidity throughout the main decentralized finance (DeFi) ecosystems.

This contains deeper liquidity throughout networks that help USDT0, corresponding to Arbitrum, Optimism, Unichain, Polygon, and Berachain..

Eliminating Friction With Omnichain Transfers

OKX explains that USDT0 is powered by LayerZero’s Omnichain Fungible Token (OFT) commonplace, which ensures each switch is verifiable and backed 1:1 by canonical USDT. This construction offers transparency whereas eradicating the complexity of wrapped tokens and bridging options.

The integration permits sooner 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 Money Chain”

X Layer is OKX’s devoted Ethereum Layer 2 community designed to join customers and builders to the broader Ethereum ecosystem. It is absolutely built-in throughout OKX’s product suite, guaranteeing a streamlined and safe consumer expertise.

Star Xu, founder and CEO of OKX, describes X Layer as “The New Money Chain and a basis for seamless, steady, 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 prospects with steady omnichain liquidity throughout the networks they depend on most, whereas bridging centralized and decentralized finance sooner, simpler, and extra intuitively than ever earlier than,” provides Xu.

USDT0’s Rapid Growth and Market Impact

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 energetic OFT throughout the LayerZero ecosystem, highlighting its rising function in DeFi infrastructure.

“Stablecoins have gotten the spine of on-chain finance. With USDT0 reside on OKX and X Layer, thousands and thousands of customers and builders can faucet into unified, cross-chain liquidity at scale,” stated Lorenzo R., co-founder of USDT0.

“This growth 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 prospects 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 world 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 lately reached mainnet with its 0.11.1 launch and is designed to broaden Bitcoin’s function 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.

The submit OKX Teams Up With Tether to Bring USDT0 to X Layer, Wallet and Exchange appeared first on Cryptonews.

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