Last Updated on June 21, 2023 by COINBUZZFEED
Tether Operations Limited (Tether), the leading provider of stablecoins, has announced its partnership with Kava, a layer-1 blockchain platform designed for scalability and speed. This collaboration will introduce U.S. dollar-pegged Tether tokens (“USD₮”) to the Kava network, bolstering the platform’s offerings in the decentralized finance (DeFi) space.
Last month, Kava successfully launched its highly anticipated “Kava 13” mainnet update, enhancing the platform’s infrastructure to provide users with enhanced security, scalability, functionality, and speed. This achievement further solidifies Kava’s position as a leading player in the blockchain industry.
Paolo Ardoino, Chief Technical Officer at Tether, expressed enthusiasm about the collaboration, stating, “We’re thrilled to be launching USD₮ on Kava, offering its strong community access to the world’s first, most stable, most trusted, and most widely used stablecoin. The Kava network is a unique and widely followed blockchain with a robust track record of four years with zero security issues, which is essential to protecting USD₮ users. Together, we aim to reshape the future of decentralized finance, fostering a robust and inclusive ecosystem that benefits users worldwide.”
Tether’s decision to integrate with the Kava network underscores its position as the foremost stablecoin provider, having pioneered the concept within the digital token space. Tether’s USD₮ is already live on various networks, including Ethereum, Solana, Algorand, EOS, Liquid Network, Omni, and Tron. The addition of Kava to its network portfolio reflects Tether’s commitment to expanding its reach and providing users with diverse options to engage with stablecoins.
