Tether Intends to Issue USDT on Kava’s Network
USDT stablecoin issuer Tether will be adding support on July 3 for the highly-utilized first-level Kava blockchain from the Cosmos platform ecosystem.
Kava was established in 2018 and offers users the versatility of the Ethereum virtual machine with the benefits of speed, low transaction fees, and interoperability with the Cosmos SDK.
Regarding the network’s safety for USDT users, Tether CTO Paolo Ardoino commented that “Kava is a unique and widely used blockchain with a robust four-year history without security issues.”
Currently, USDT operates on multiple networks including Ethereum, Solana, Algorand, Avalanche, EOS, Near, and Tron.
The stablecoin’s capitalization of $83.2 billion recently broke its previous record highs, according to CoinGecko.
In light of the token’s success, Ardoino previously expressed that the high profitability of Tether grants them the capability to explore new areas of business: a bitcoin mining project in El Salvador which is now being grown with $1 billion invested.
