Tether Deploys Stablecoin USDT0 on Layer 2 Ink

In the announcement on 17/01/2025, Tether has chosen the Kraken crypto exchange's Layer 2 Ink as the first platform to deploy the USDT0 Token.

Tether is expanding its cross-chain Liquidation capabilities with USDT0, a stablecoin designed to make it easier to move USDT between blockchains.

This USDT0 uses the LayerZero Omnichain Fungible Token standard, allowing it to be Mint and Burn on different networks without going through complex conversion steps.

This is part of Tether's expansion strategy under Paolo Ardoino, who has driven many new experiments since becoming CEO in late 2023, including Bitcoin mining in El Salvador and internal AI research.

Kraken is also pursuing an aggressive growth strategy, focusing on product innovation and organizational optimization. After appointing Arjun Sethi as co-CEO, the company carried out staff reductions in October to eliminate unnecessary organizational layers, helping to accelerate the deployment of new projects.

This is clearly reflected in the launch of Ink, a Layer 2 using Optimism technology, in December, several months earlier than expected. In a short time, Ink has made important strides, such as being accepted into the Optimism Security Council, deploying the decentralized exchange Velodrome, and becoming the testing platform for Tether's USDT0.

The collaboration between Tether and Kraken shows the convergence of innovative thinking between the two companies. Tether has traditionally been very cautious in deploying USDT on new blockchains, often taking several months to assess the safety and stability of the network before putting USDT into operation.

However, with Kraken's reputation and the proven OP Stack technology, the two parties have reached an agreement to accelerate the deployment of USDT0 on Ink without any money being exchanged.

According to Andrew Koller, who leads the Ink development process at Kraken, both parties are focused on security, integrating security experts into every testing process. As Kraken conducts stress tests on the system, Tether also participates to ensure the highest security standards.

In addition to providing Liquidation for applications like Velodrome, USDT0 also helps improve the user experience on Ink and other Layer 2s.

Whereas previously, moving USDT between blockchains required many intermediate steps, with USDT0, this process will become simpler, allowing users to easily access cross-chain Liquidation without too many obstacles.

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