{"id":20417,"date":"2025-01-17T15:53:15","date_gmt":"2025-01-17T13:53:15","guid":{"rendered":"https:\/\/forklog.com\/en\/tether-launches-cross-chain-stablecoin-usdt0-on-krakens-ink-l2\/"},"modified":"2025-01-17T15:53:15","modified_gmt":"2025-01-17T13:53:15","slug":"tether-launches-cross-chain-stablecoin-usdt0-on-krakens-ink-l2","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/tether-launches-cross-chain-stablecoin-usdt0-on-krakens-ink-l2\/","title":{"rendered":"Tether launches cross-chain stablecoin USDT0 on Kraken\u2019s Ink L2"},"content":{"rendered":"<p><a href=\"https:\/\/forklog.com\/en\/news\/kraken-launches-ink-an-l2-solution-ahead-of-schedule\">Launched<\/a> by Kraken, the Ink network is the first Ethereum layer-2 to deploy the cross-chain stablecoin USDT0, the exchange said in its <a href=\"https:\/\/blog.kraken.com\/product\/asset-listings\/usdt0-launches-exclusively-on-kraken\">blog<\/a>.<\/p>\n<p>Ink is built on Optimism\u2019s technology and is compatible with all networks on the OP Stack.<\/p>\n<p>Kraken\u2019s rivals have launched their own OP-based DeFi layer-2s, including Coinbase\u2019s Base and <a href=\"https:\/\/forklog.com\/en\/news\/uniswap-unveils-unichain-a-new-layer-2-solution-for-defi\">Unichain<\/a> from Uniswap.<\/p>\n<p>The stablecoin\u2019s issuer plans to turn USDT0 into a \u201cunified liquidity layer\u201d for L2s to simplify token transfers across the crypto ecosystem.<\/p>\n<p>The stablecoin uses LayerZero\u2019s Omnichain Fungible Token standard, designed to mint and burn the asset across multiple chains.<\/p>\n<p>USDT0 enables seamless and secure cross-chain transfers without the need for separate deployments, pools or intermediary solutions. The structure improves capital efficiency and simplifies moving assets between networks.<\/p>\n<p>Speaking to<a href=\"https:\/\/www.theblock.co\/post\/335144\/tether-taps-krakens-ink-layer-2-for-the-first-deployment-of-its-cross-chain-usdt0-stablecoin\"> The Block<\/a>, Ink head Andrew Koller explained that USDT0 will bring liquidity to <span data-descr=\"decentralized applications\" class=\"old_tooltip\">dapps<\/span> such as Velodrome and improve the user experience on Ink and other L2s.<\/p>\n<p>In November, Kraken and Tether <a href=\"https:\/\/forklog.com\/en\/news\/kraken-and-tether-back-launch-of-eu-regulated-stablecoins\">funded<\/a> the launch of EU\u2011regulated stablecoins.<\/p>\n<p>Also in November, Tether <a href=\"https:\/\/forklog.com\/en\/news\/tether-to-cease-support-for-eurt\">decided<\/a> to cease support for the euro-denominated EURT stablecoin.<\/p>\n<p>By November 2024, MiCA\u2011compliant stablecoins such as EURC, Societe Generale\u2019s EURCV and Banking Circle\u2019s EURI accounted for a record <a href=\"https:\/\/forklog.com\/en\/news\/kaiko-highlights-2024-in-ten-best-charts\">91% market share<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Launched by Kraken, the Ink network is the first Ethereum layer-2 to deploy the cross-chain stablecoin USDT0, the exchange said in its blog. Ink is built on Optimism\u2019s technology and is compatible with all networks on the OP Stack. Kraken\u2019s rivals have launched their own OP-based DeFi layer-2s, including Coinbase\u2019s Base and Unichain from Uniswap. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20416,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[193,1179,1349,807,1245],"class_list":["post-20417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-kraken","tag-layer-2-solutions","tag-layerzero","tag-stablecoins","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"88","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/20417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=20417"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/20417\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/20416"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=20417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=20417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=20417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}