Tether's stableblock issuer will issue a USDT token on the EOS blockchain, Paolo Ardoino, technical director of Bitfinex, said. According to Ardoino, his company was motivated by the desire to realize native support for USDT on the eosfinex exchange.
“One of the main reasons is that we need USDT at eosfinex. Since this is a decentralized exchange, we need Tether-EOS so that we can offer EOS / USDT and “cryptocurrency-stablecoin” pairs. We thought it would be nice to give people the opportunity to work with Tether-EOS even before the full launch of eosfinex, ”he explained.
Currently, USDT is based on Omni, Ethereum and TRON protocols. According to Ardoino, the implementation of crosschain compatibility is a key factor for the long-term success of stablecoin. He also said that by the end of this year, Tether intends to add support for USDT in the Bitcoin sidechain of the Lightning Network.
“I work with Blockstream to launch Tether on the Liquid Network. On behalf of Bitfinex, we are working with the RGB protocol community to launch assets in LN, ”he added.
This week, Ardoino announced that Tether’s customers are showing an increasing demand for USDT released using the Ethereum blockchain.