Tether and LayerZero Launch Multichain Stablecoin USDT0
- Tether and LayerZero announced the launch of USDT0 on January 16.
- USDT0 uses the Omnichain Fungible Token (OFT) standard for cross-chain transfers.
- USDT tokens are locked on Ethereum, with USDT0 minted in a 1:1 ratio on target chains.
- USDT0 will first debut on Kraken’s layer-2 blockchain, Ink.
- USDT is available on 11 blockchains with a $141 billion supply, leading the stablecoin market.
The multichain version of Tether’s stablecoin, USDT0, aims to enhance liquidity across blockchains using LayerZero’s OFT standard. It debuts on Kraken’s Ink blockchain, reflecting Tether’s strategy to expand its market presence further.
