Tether Announces USDT Launch on Aptos Network

Tether has announced plans to soon support the Aptos Network blockchain for the launch of its stablecoin, USDT.

Tether (USD₮) To Launch on Aptos Blockchain
Learn more: https://t.co/oAZcqa5RRv pic.twitter.com/0Mp7Lwm82b

— Tether (@Tether_to) August 19, 2024

The issuer of the “stablecoin” highlighted the speed and scalability of Aptos’s infrastructure, low transaction fees, and its “reliable developer community.”

Tether also noted the significant growth of the blockchain project’s ecosystem, with daily active users increasing from 96,000 in January 2024 to 170,000 in July. In May, the network processed a record number of transactions in a single day—157 million.

According to Aptos, for the week ending August 15, the average daily number of transactions was approximately 50 million, and the protocol’s peak throughput reached 12,492 TPS.

Another record-breaking week for Aptos ? By the numbers:

⭐ 12,492 peak TPS
⭐ 326M+ user trxns
⭐ 50M daily trxns
⭐ Processed 4.1K+ TPS on Aug. 15

Contributing to this was the launch of @taposcat‘s second game—which broke its record to surpass 500M transactions in just 3…

— Aptos (@Aptos) August 17, 2024

“The Tether team is excited to integrate and collaborate with the Aptos ecosystem, reaffirming our commitment to making digital currencies more accessible and functional. The network’s innovative technology offers a reliable platform for simpler, faster, and more cost-effective USDT transactions,” said Tether CEO Paolo Ardoino.

Aptos Labs provided technical expertise for the integration. The company’s head, Mo Shaikh, believes the collaboration will “leverage the blockchain’s capacity to handle large volumes and contribute to rapid customer base growth.”

In April, Tether added support for USDT on The Open Network blockchain.

In June, the firm decided to cease issuing the stablecoin on the EOS and Algorand networks.