- The partnership between Tether and Celo represents a strategic collaboration aimed at enhancing financial inclusion globally.
- By integrating Tether’s USDT stablecoin onto the Celo blockchain, both platforms aim to empower individuals worldwide with access to fast, low-cost payments.
Tether Operations Limited (Tether), a leading entity in the cryptocurrency sector, has announced the forthcoming launch of its USDT token on the Celo blockchain network.
This strategic partnership between Tether and Celo represents a significant advancement in accessibility and utility for digital currency users worldwide. By integrating with Celo’s mobile-first and Ethereum Virtual Machine (EVM)-compatible blockchain, Tether aims to enhance financial inclusion and empower individuals globally.
The integration of Tether USDT with the Celo ecosystem offers several advantages, including ultra-low transaction fees of around $0.001, facilitating microtransactions for users from diverse socio-economic backgrounds.
Leveraging Celo’s EVM compatibility further enhances interoperability with the broader Ethereum ecosystem, ensuring seamless integration with existing projects and applications.
Moreover, Celo’s innovative proposal to use USDT as a gas currency within its ecosystem promises increased transactional efficiency, particularly within decentralized applications (dApps) focusing on payments and lending.
With Celo’s robust ecosystem, which includes Opera MiniPay’s stablecoin wallet and other impactful use cases, the adoption and utilization of USDT are expected to flourish, particularly in regions like Kenya and Ghana.
The carbon-negative nature of the Celo blockchain aligns with Tether’s commitment to sustainability and transparency, ensuring that users can access USDT through mobile devices while enjoying the benefits of low costs and financial integrity. This collaboration underscores both companies’ shared vision of democratizing access to blockchain technology for mainstream users worldwide.
Paolo Ardoino, CEO of Tether, expressed enthusiasm about the integration, emphasizing Tether’s dedication to providing accessible digital currency solutions globally. This expansion of Tether USDT onto the Celo platform demonstrates a significant step forward in achieving this mission and unlocking new possibilities for millions of users worldwide.
The introduction of Tether USDT on Celo adds to the platform’s diverse array of stable assets, including solutions like Mento’s eXOF and cREAL, catering to various currencies and regions. This integration expands the utility of stable assets on Celo, facilitating applications such as remittances, savings, lending, and cross-border payments.
Key features of the Celo platform, such as SocialConnect and FiatConnect, further enhance accessibility and usability for users, simplifying the process of transacting with Tether USDT on Celo. Additionally, the option to pay for gas with ERC-20 tokens ensures a seamless payment experience for users, fostering broader adoption and usage.
Rene Reinsberg, Co-Founder and Celo Foundation President, expressed excitement about welcoming Tether USDT to the Celo ecosystem, highlighting the platform’s commitment to creating a digital economy that benefits all users. With Tether USDT soon to be available on Celo, users will have access to fast, low-cost payments and robust stablecoin use cases, furthering financial inclusion on a global scale.
The launch of Tether USDT on Celo represents a significant milestone for both platforms and the broader cryptocurrency ecosystem. It underscores the importance of collaboration and innovation in driving the adoption of digital currencies and advancing financial inclusion worldwide. With its expansion onto the Celo blockchain, Tether reaffirms its position as the most widely adopted stablecoin across multiple networks.
Tether (USDT): The Premier Stablecoin Solution for Global Transactions
Tether (USD₮) tokens, launched in 2014, pioneered the stablecoin model and are renowned as the most widely traded stablecoins.
Offering the stability of fiat currencies combined with the innovation of blockchain technology, Tether presents an ideal fusion of both worlds. Whether for personal or business use, Tether tokens provide numerous benefits, serving as the most stable, liquid, and trusted stablecoin.
With support across multiple blockchains including Algorand, Ethereum, and Solana, Tether tokens ensure easy integration and adoption. Their unparalleled liquidity makes them among the most traded tokens by daily volume, offering unmatched market access.
Tether tokens enjoy widespread adoption across exchanges, digital wallet apps, DeFi protocols, and payment services, providing a convenient fiat alternative. Moreover, Tether tokens are fully backed by Tether’s reserves, maintaining a 1-to-1 peg with fiat currencies and ensuring transparency with publicly available reserve data.
Available in various currencies including USD, EUR, MXN, and CNH, Tether tokens adhere to regulatory compliance standards, featuring robust measures for AML, CFT, sanctions, and KYC regulations.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.