Tether is Now Available on OKX Chain

Tether is Now Available on OKX Chain

July 13, 2022 0 By Jeanine Sanchez

One of the top crypto exchanges in the world, OKX, now has Tether products. Tether Gold, Tether USDT stablecoin, and EURT pegged to the Euro, are on the blockchain. This was stated in a recent press statement.

Improved Security

The latest additions improve the blockchain’s speed and reduce transaction costs. Deposits and withdrawals used to come at heavy costs. Users can now cease the advantage of a faster USDT and pay an average of $0.0001/transaction.

Tether finally gave a smart contract license to OKC to trade its commodities. This means that Tether investors will also have better security when transacting on the platform. Aside from OKC, Tether is listed just on 11 other blockchains the world over.

Lennix Lai, the Director of Financial Market at OKX said USDT listing is limited. It is listed on successful and prominent public chains so OKX is excited to welcome it. OKX is part of the few public blockchains at the intersection of Ethereum and Cosmos.

The First USDT on Cosmos

What enabled OKX to get linked with Cosmos is its interoperability with Ethereum’s mainnet. The new alignment with Tether sets a unique moment in history. It is especially so because USDT has not been sent to an ecosystem powered by Cosmos before.

It is now possible for users to participate in the IBC/Cosmos ecosystem. The exciting part is that there will be absolutely no need to download a different wallet. The OKX wallet will do just fine in meeting all their needs.

Being a blockchain ecosystem, Cosmos was designed for interoperability and scalability. Projects on it can easily connect with one another and expand their scope.

Paolo Adriano, Tether’s CTO, said Tether has marked its debut on the Cosmos blockchain. The launch on OKC finalizes that. He said Tether is happy to aid OKC’s expansion through new use cases.

Aside from the fact that Tether has been added to OKC, the partnership does more. It is also providing EURT and Tether Gold to the blockchain as well. Tether Gold, though a digital asset, is backed up by actual gold. While EURT, on the other hand, is a stablecoin pegged to the Euro.

Tether is the world’s largest stablecoin by market capitalization.