Tether’s USDT is now live on the Aptos blockchain, with way smaller transaction fees. Hell yeah!
Penny fees
Tether introduced USDT on the Aptos blockchain, with a focus on minimizing transaction costs.
Tether’s goal is to going forward in their broader strategy to enhance the accessibility and usability of digital currencies on a global scale.
Aptos’ blockchain isscalable and fast, so Tether intends to offer users transaction fees that are extremely low, reportedly costing just a fraction of a penny.
With this new integration, Tether wants to make transactions more affordable, which could have widespread implications for various use cases, from microtransactions to large-scale enterprise operations too.
The Aptos network is expected to play an important role in achieving these goals, allowing for economically viable transactions on a much larger scale.
Who’s been a good blockchain?
The Aptos blockchain has experienced rocket-like growth throughout the year. The number of daily active users on the network increased from 96,000 in January to 170,000 in July.
Almost the double, nice! Next to this, the blockchain processed a record-breaking 157 million transactions in a single day in May.
Paolo Ardoino, Tether’s CEO, shared that Aptos’ technology would enable faster and more cost-effective transactions using USDT.
Another big name in the industry, Nansen, a blockchain analytics provider,also announced a partnership with Aptos to bring enhanced on-chain analytics and data tools to the Aptos ecosystem.
No relax for Tether
In a separate legal matter, Tether is facing a $3.5 billion lawsuit from the now-defunct cryptocurrency exchange, Celsius.
The lawsuit accuses Tether of misappropriating assets, seeking compensation in Bitcoin returns, damages, and legal fees.
Celsius claims that Tether provided a specific amount of USDT as a loan during Celsius’ bankruptcy proceedings, with Celsius sending 39,543.42 BTC as collateral.
The lawsuit alleges that Tether liquidated the Bitcoin at a price that almost matched the debt without giving Celsius the opportunity to provide additional collateral.
