Tether to Move 1 Billion USDT from Tron to Ethereum

The issuer of the stablecoin Tether will move 1 billion USDT from the Tron blockchain (TRC-20) to Ethereum (ERC-20). The total supply will not change.

Tomorrow Tether will coordinate with a 3rd party to perform two chain swaps (conversion from Tron to ERC20 protocol) for 1B USDt.
Tether total supply will not change during this process.
Read more here: https://t.co/abfgnELSvi

— Tether (@Tether_to) September 14, 2020

The swap will take place on Tuesday, September 15, coordinating its actions with a third party, according to Tether.

In recent weeks, this is the second such transfer of the stablecoin between blockchains — on August 20 the issuer also moved 1 billion USDT from Tron to Ethereum.

Tether noted that large-scale swaps between blockchains are usually performed at the request of major clients. As of today, the company uses Ethereum, EOS, Tron, Omni, Liquid Network, Algorand, OMG Network and Solana to issue the stablecoin.

According to CoinGecko, the total supply of USDT has exceeded 14.7 billion, with the majority of coins issued on the Ethereum blockchain.

For details on who created the most popular stablecoin, when it was created, how it operates and develops, read the linked article.

What is Tether (USDT)?

Earlier, to ease load on the main Ethereum network, the issuer added support for a Layer 2 scaling solution using ZK-Rollups.

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