Tether Has Decided to Integrate USDT Into the Aptos Network

Tether, the issuer of the USDT stablecoin, is expanding its reach by launching USDT on the Aptos blockchain.

This integration allows users of the Aptos blockchain to transact with USDT at a lower cost compared to more expensive networks like Ethereum. Tether CEO Paolo Ardoino stressed that the move reinforces Tether’s commitment to innovation and providing trusted financial tools for its users.

Aptos, a layer one blockchain co-founded by former Meta engineers Mo Shaikh and Avery Ching, aims to offer a scalable, efficient and user-friendly infrastructure for decentralized applications and smart contracts.

Despite Tether’s expansion into multiple blockchains, USDT’s supply has flourished primarily in Tron and Ethereum, with current supply of $60.82 billion and $52.99 billion, respectively.

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Other networks, such as Arbitrum, hold significantly less USDT, with only two other chains exceeding the $1 billion mark.

In June, Tether stopped digging for new USDT in the EOS and Algorand blockchains, having previously decided to end support for Bitcoin, Kusama and Bitcoin Cash in 2023. Despite these changes, Tether reported a record net profit of $5.2 billion in the first half of 2024, although this figure includes unrealized gains in Bitcoin, whose price fell in the second quarter.

As a result, the increase in profit for the first half of 2024 is only $700 million more than the first quarter, despite a net operating profit of $1.3 billion in the second quarter.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.