TL;DR
Tether launches USDT0 tokens using Kraken’s Ethereum scaling layer, known as Ink, to optimize transfers between blockchains. USDT0 aims to become a unified liquidity layer through LayerZero’s Omnichain Fungible Token standard, providing greater efficiency and scalability. This partnership strengthens the focus on innovation and security for both Tether and Kraken, leaders in the cryptocurrency ecosystem.
In a move promising greater interoperability in the cryptocurrency ecosystem, Tether has launched a new USDT0 token on Ink, Kraken’s Ethereum Layer 2 scaling solution. This important launch marks a milestone in the evolution of stablecoins by adopting a unified liquidity system that simplifies and optimizes USDT transfers across multiple blockchains.
USDT0 leverages LayerZero’s Omnichain Fungible Token standard, which allows efficient minting, writing, and movement of tokens between different blockchains. Paolo Ardoino, Tether’s CEO since 2023, said the ambitious project will take place alongside other initiatives such as Bitcoin mining in El Salvador and an in-house research team to develop advanced artificial intelligence. It is said to reflect the spirit of innovation that has characterized the company in recent years.
Meanwhile, Kraken, founded in 2011, has taken an aggressive approach to expansion and innovation. In December 2024, the company launched Ink, an Optimism-based Layer 2 solution, and in the early weeks, including integration into the Optimism Security Council and deployment of decentralized exchange Velodrome, which has already shown promising results. has made significant progress.
Collaboration based on trusted and proven technology
Andrew Koller, lead developer at Ink, emphasized that Kraken’s reputation for security and the technical reliability of its OP stack accelerated the partnership with Tether.
“Both companies share a focus on rapid experimentation and rigorous security to deliver the best for our users.”
Mr. Koller said:
Tether, which is known to be very cautious when adopting new chains, selected Ink after evaluating its stability, efficiency and technical reliability. The combination did not involve any financial exchange and emphasized the strategic alignment and long-term vision of both companies.
In addition to bringing liquidity to applications like Velodrome, USDT0 also aims to improve the user experience with Ink. The goal, Koller said, is to eliminate the complexity of moving assets between chains and provide users with a more intuitive, secure and efficient flow.
This development represents an important step in the evolution of stablecoins towards increased interoperability and ease of use, and further strengthens Tether and Kraken’s unwavering commitment to innovation and excellence in the cryptocurrency space.
