Tether's USDT is now available on Polkadot's Kusama Network

Tether has deployed USDT on the Kusama network of Polkadot. The stablecoin is currently available on a number of networks, and the company's leaders feel that this will aid in the creation of decentralized applications.



According to a report published on April 13, Tether's USDT stablecoin was released on Polkadot's Kusama network.


USDT is now available on Kusama, joining Ethereum, TRON, Algorand, and EOS as the latest networks to support it.


Furthermore, USDT will be available on the Statemine, the Kusama network's initial parachain.


Moreover, Tether celebrates the possibilities it brings to decentralized apps using stablecoins across several networks, calling the "addition of Tether tokens to the Kusama network a milestone moment."


It promises consumers a "smooth interoperable experience" thanks to its commitment to multi-chain accessibility, allowing anyone to develop anywhere.


Tether is now available on multiple networks, cementing its status as the most commonly used stablecoin on the market.


The crypto community has criticized the fact that there is already over $80 billion in USDT in circulation.


Paolo Ardoino, Tether's Chief Technology Officer, expressed his enthusiasm for the debut, adding,


"Kusama is a fantastic illustration of that ethos for people who believe in the value of decentralized, permissionless ecosystems. It's a platform that's designed to put power in the hands of its users, and we're excited to be a part of its expanding ecosystem."

Tether has been in the news for a number of reasons, and this has been the case for some years.


It has a history of making controversial headlines, but this does not appear to have impeded its growth as a prominent stablecoin.


In addition, the organization has made an attempt to adhere to legislation.


Tether claims to be reducing its commercial debt holdings.


On April 13, CNBC reported that Tether planned to cut its commercial debt holdings in its reserves.


Ardoino was interviewed by the news organization, and he shared the news.


Because it did not specify which company's corporate debt it held, the stablecoin corporation has being scrutinized for its commercial debt holdings.


Tether's commercial interests currently make up just over 30% of the total, down from 44% in Q3 2021.


The funds have been transferred to the United States.


Treasury, according to Ardoino. Investors are concerned about how much and what exactly backs Tether's massive market value, thus Tether's reserves are being scrutinized.


As the world's largest asset management, BlackRock, studies stablecoins and digital assets, Tether and other stablecoins may experience a surge in growth.


In a shareholder letter, Chairman Larry Fink stated as much.