- Lower Transaction Costs
- Enhancing the Aptos Ecosystem
- Growing Adoption and Market Presence
Stablecoin issuer Tether announced the launch of its primary stablecoin, USDT, on the Aptos blockchain. This strategic move aims to significantly reduce transaction costs, offering users a more economical and efficient way to conduct transactions.
Lower Transaction Costs
Aptos, known for its low gas fees, charges only a ‘fraction of a penny’ per transaction. This allows users to engage in a wide range of transactions, from microtransactions to large-scale enterprise operations, without the financial burden usually associated with higher-cost networks.
Enhancing the Aptos Ecosystem
The integration of USDT on Aptos is expected to enhance the blockchain’s appeal by tapping into Tether’s established stability and reliability. The Aptos network has been growing, with a robust developer community and an increasing number of deployed contracts. The platform processed a record-breaking 144 million transactions on Aug. 14, 2024.
Growing Adoption and Market Presence
USDT is the most widely-used stablecoin globally, with a market cap of approximately $117 billion, according to CoinMarketCap. It is already live on several major blockchains, including Solana, Ethereum, and TRON. The addition of Aptos to this list expands USDT's reach and utility, making it accessible to a broader range of users across different networks.
The launch of USDT on the Aptos blockchain represents a significant step for both parties, promoting lower transaction costs and enhancing the Aptos ecosystem.
