Tether Announces Plans to Launch USDT on Celo Blockchain

Popular stablecoin operator Tether is expanding its USDT stablecoin to more blockchain networks and has recently formed a strategic partnership with the Celo network.

Tether highlighted the benefits of this integration, including lower transaction fees of around $0.001, which allows for microtransactions to be easily conducted using USDT.

According to sources familiar with Celo, one of its main features since its launch in 2020 is its ability to facilitate fast and low-cost payments worldwide.

The platform operates as a layer 2 solution and brings added value to the Ethereum network, which is not possible with its current layer 1 solution.

A spokesperson explained, “By transitioning to an Ethereum layer 2 solution, gas fees will remain low, which is crucial to achieving global prosperity, and aligns with Celo’s mission.”