San Salvador – Tether, the cryptographic company behind the largest stablecoin, presents its $ 140 billion USDT token in Bitcoin – the blockchain that underpins the largest and oldest cryptocurrency – and the service of scale Bitcoin Lightning Network, the company announced on Thursday.
Announced at the Conference of Plan B in San Salvador, the CEO of Tether, Paolo Ardoinino, said that bringing it USDT to Bitcoin and Lightning aims to offer “practical solutions for discounts, payments and other financial applications which require both speed and reliability “. “”
Stablecoins are a class of digital assets of $ 200 billion with their prices anchored to an external asset, mainly the US dollar. They serve as a bridge between the money issued by the government and digital assets based on blockchain, and are increasingly popular for daily uses such as payments, savings and shipments, especially in emerging countries .
While the use of stablescoin has quickly developed in recent years, activity and supply are mainly concentrated on intelligent contract platforms such as Ethereum, Tron and Solana.
What makes USDT integration with possible bitcoin are the assets of the Tapoot root, an infrastructure element that allows asset emissions on the Bitcoin base layer and transfers on the Lightning network, a flat -Form of scaling focusing on fast and inexpensive transactions, which makes micropaments more profitable. The protocol, developed by Lightning Labs and published last year, opens the way to bring external tokens like the stablecoins to the Bitcoin ecosystem.
“Millions of people will now be able to use the most open and most open blockchain to send dollars worldwide,” said Elizabeth Stark, CEO of Lightning Labs, development organization behind the Lightning Network. “USDT Bitcoin intake combines the safety and decentralization of bitcoin with the speed and scalability of lightning,” she added.
Update (January 30, 22:01 UTC): Add declarations of the CEO of Tether and the CEO of Lightning Labs.
