Tether said it is expanding its USDT stablecoin to the Aptos layer-1 blockchain network, according to an Aug. 19 statement.
The move strengthens USDT’s presence on various blockchain networks, including Ethereum, Tron, Avalanche, Celo, and Solana. However, the bulk of Tether’s $116 billion supply remains concentrated on TRON and Ethereum, accounting for 88% of the total supply, according to data from DeFillama.
Why Aptos?
Tether explained that integrating USDT onto the Aptos blockchain will offer extremely low gas fees, costing a fraction of a cent. This will make transactions more cost-effective, benefiting microtransactions and large-scale enterprise operations.
The stablecoin issuer also cited Aptos’ strong developer community and thriving ecosystem as critical factors in its decision.
Tether CEO Paolo Ardoino praised Aptos’ innovative technology, saying it provides a robust platform for faster and more cost-effective USDT transactions. He noted that this collaboration aligns with Tether’s commitment to innovation while providing users with stable and reliable financial tools.
Aptos, co-founded by Mo Shaikh and Avery Ching, aims to provide a scalable and user-friendly infrastructure for decentralized applications and smart contracts. Both founders were previously involved in Meta’s Diem blockchain project.
Recently, Aptos has seen a surge in activity due to the launch of the click-to-earn game Tapos 2. On August 15, the network processed over 326 million transactions, reaching a peak of over 12,000 transactions per second.
DeFi Opportunity
Market watchers suggest that the move will inject new energy into Aptos’ DeFi sector.
VibrantX Finance, a yield aggregation platform, noted that the integration could increase liquidity in the Aptos ecosystem. This would facilitate transactions, attract new users and developers, and increase capital inflows.
He added:
“With USDT, a widely recognized and trusted stablecoin, more users can easily participate in DeFi activities on Aptos, including vibrantx.financeAs a leading stablecoin, USDT can also bridge the gap between Aptos and other blockchains, expanding the possibilities of DeFi.”
According to data from DeFillama, Aptos is the fourteenth largest DeFi network, with $730 million in total value of assets locked.
The news is notable, given that Tether recently removed native support for EOS and Alogrand earlier this year as part of a shift in focus toward “improving community-driven blockchain support.”
