Sep 13, 2022 Muhammad Hamza Afzal

USDT to launch on NEAR

Tether continues to expand and establish its presence as it launches its USDT stablecoin on the NEAR network. USDT is now one of the most widely adopted stablecoins as it resides on thirteen blockchains already. 

NEAR is a smart contract-capable Layer 1 blockchain platform for building decentralized applications. Thanks to the platform’s scaling capabilities, hundreds of projects are now building on NEAR, pushing the network's transaction count per day to between 300,000-400,000. 

The move to launch USDT on the NEAR network comes right after NEAR Foundation and Caerus Ventures announced a $100 million venture fund to support and encourage Web3-based entrepreneurs. Tether’s CTO, Paolo Ardoino, believes that this move will provide Tether with more energy to thrive in the days to come. NEAR Foundation’s CEO Marieke Flament shared similar thoughts while expressing delight at the stablecoin’s debut on the NEAR network. 

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