{"id":136108,"date":"2024-08-23T19:30:25","date_gmt":"2024-08-23T16:30:25","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=136108"},"modified":"2024-08-23T16:51:01","modified_gmt":"2024-08-23T13:51:01","slug":"here-is-why-tether-wont-be-launching-their-own-blockchain","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/here-is-why-tether-wont-be-launching-their-own-blockchain\/","title":{"rendered":"Here is Why Tether Won&#8217;t be Launching Their Own Blockchain"},"content":{"rendered":"<p>This decision is attributed to a saturated market and strategic considerations, according to Paolo Ardoino, the company\u2019s CEO. In a discussion with <strong><a href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2024-08-22\/why-tether-doesn-t-want-its-own-blockchain\" rel=\"nofollow\">Bloomberg<\/a> <\/strong>News, Ardoino highlighted that the current blockchain ecosystem is already well-served by existing technologies, suggesting that launching a new blockchain might not be the most effective approach given the high quality of available options.<\/p>\n<p>Ardoino emphasized that Tether\u2019s focus remains on ensuring that <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/tether\/\">USDT<\/a> <\/strong>maintains its effectiveness and security through existing blockchain platforms, which are utilized as \u201ctransport layers.\u201d This approach reflects the company\u2019s satisfaction with the current infrastructure and its strategy to leverage existing blockchains for peak performance of its stablecoin.<\/p>\n<p>Additionally, on August 19, Tether expanded USDT to the Aptos blockchain. This move is intended to lower transaction fees and enhance global accessibility. The integration aims to take advantage of <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/aptos\/\">Aptos<\/a><\/strong>\u2019 speed and scalability, providing users with minimal transaction costs. Tether\u2019s decision to integrate with Aptos follows significant activity on the blockchain, which set a record with 157 million transactions in a single day in May.<\/p>\n<p><div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1\">Read More:<\/h5>\n    <a class=\"article row post-136082\" href=\"https:\/\/cryptodnes.bg\/en\/sony-ventures-into-blockchain-with-new-initiative\/\" title=\"Sony Ventures into Blockchain with New Initiative\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2023\/02\/sony-logo-240x170.webp\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Sony Ventures into Blockchain with New Initiative<\/h4>\n        <\/div>\n    <\/a>\n<\/div>\n<\/p>\n<p>Furthermore, Tether is making strides in the Middle East by collaborating with Phoenix Group and Green Acorn Investments to launch a dirham-backed stablecoin. Announced on August 21, this new stablecoin will be fully supported by liquid UAE reserves and adhere to Tether\u2019s standards of transparency and robustness. This initiative is expected to offer a cost-effective way for users to engage with the UAE dirham in digital transactions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tether, the issuer of the leading stablecoin USDT, has decided against launching its own blockchain.<\/p>\n","protected":false},"author":3,"featured_media":28732,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[23],"tags":[71],"coin_category":[],"class_list":["post-136108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-stablecoin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Here is Why Tether Won&#039;t be Launching Their Own Blockchain<\/title>\n<meta name=\"description\" content=\"Tether, the issuer 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