Tether’s USDT and XAUT Launch on Solana, Enhancing Liquidity
- Omnichain versions of Tether’s stablecoin USDt (USDT) and Tether Gold (XAUT) are now live on Solana via Legacy Mesh.
- USDT has a total circulating supply of approximately $180 billion, making it the largest stablecoin by market cap.
- Since their launch, USDT0 products have processed over $25 billion in bridge volume across more than 32,000 transfers.
- Solana’s market capitalization stands at about $112.6 billion, positioning it as the second-largest smart contract platform after Ethereum.
- Despite growth, Solana hosts only $694 million in tokenized assets compared to Ethereum’s nearly $12 billion in RWAs.
The integration of USDT and XAUT on Solana aims to enhance decentralized finance (DeFi), payments, and institutional financial products on the network. This development could facilitate treasury management and collateralized lending for users.
With the launch of USDT0 and XAUT0, Tether expands its footprint in omnichain liquidity networks, potentially increasing access to stablecoin transactions significantly.(Source)
