Tether to issue USDT on the Kava blockchain


USDT stablecoin issuer Tether will add support for the first-level Kava blockchain from the Cosmos platform ecosystem.

The launch of the coin in the new network is scheduled for July 3, 2023.

The Kava blockchain has been operating since 2018. According to the announcement, it combines the flexibility of the Ethereum virtual machine with speed, low transaction fees, and interoperability with Cosmos. SDK.

“Kava is a unique and widely used blockchain with a robust four-year history without security issues, which is necessary to protect USDT users,” said Tether CTO Paolo Ardoino.

The stablecoin operates on multiple networks at the time of writing, including Ethereum, Solana, Algorand, Avalanche, EOS, Near, and Tron.

The capitalization of USDT is $83.2 billion. During June, the indicator updated its historical highs (CoinGecko).

Recall that in May, Ardoino said that the high profitability of Tether makes it possible to consider new business areas. Following it, it became known that the stablecoin issuer invested $1 billion in a bitcoin mining project in El Salvador.

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