Tether deployed its flagship stablecoin, USDt, on the Kaia blockchain as part of a broader collaboration with Line Next, the Web3 arm of Line, Japan’s popular messaging platform with more than 196 million monthly active users.
The integration means USDt (USDT) will now be supported across Line’s messenger-based Mini DApp ecosystem and self-custodial wallet, enabling users to interact with stablecoins inside an interface they already use daily, Tether said in a May 7 announcement.
Line users will be able to use USDt for in-app payments, cross-border transfers and decentralized finance (DeFi) activities.
“Through LINE NEXT’s blockchain infrastructure, over 200 million LINE users will now have a straightforward way to engage with digital assets in everyday life,” Tether CEO Paolo Ardoino said, adding:
“Tether’s expansion to Kaia underscores its commitment to fostering stablecoin adoption across Asia and beyond.”
Related: Tether AI platform to support Bitcoin and USDT payments, CEO says
Line users to transfer USDT via in-app wallet
Initial features include mission-based USDT rewards within Mini DApps and peer-to-peer USDT transfers via Line’s in-app wallet. Future additions may expand stablecoin functionality across other app layers.
The Kaia blockchain, which powers Line’s Mini DApps, offers low-latency transactions and immediate finality, making it a strong partner for stablecoin activity, according to Kaia DLT Foundation chair Sam Seo.
Seo added that this collaboration aims to bring “the fastest, easiest, and most reliable” USDT experience to users across platforms like LINE, DeFi apps, and centralized exchanges.
Line Next CEO Youngsu Ko also claimed that the stablecoin integration will help create a “dollar-based gateway” for users, making Web3 services more practical and accessible for the region’s everyday consumers.
Tether’s USDT is the largest stablecoin in terms of market capitalization, with a circulating supply of over 149.4 billion tokens, according to data from CoinMarketCap.
The stablecoin issuer has also been consistently minting new tokens. On May 5, Tether minted another $1 billion USDT on the Tron network, bringing the total USDT on Tron to $71.4 billion.
In comparison, there is currently $72.8 billion USDT circulating on the Ethereum network.
On May 6, Tether announced a partnership with Chainalysis that will integrate the company’s compliance and monitoring tools onto Tether’s tokenization platform. The move comes amid expanding oversight across the crypto industry.
Magazine: Lazarus Group’s favorite exploit revealed — Crypto hacks analysis
Read the full article here
Follow us on Google News to get the latest Updates
