Tether Launches USDt On Kava
Real USDT is unlocked in Cosmos.
USDt Tether, the world’s most liquid, secure and transparent stablecoin, has been successfully launched on Cosmos via Kava, marking an important milestone in the expansion of the Cosmos DeFi ecosystem.
The integration of USDt Tether in Kava makes the stablecoin’s deep liquidity across Cosmos’ Inter-Blockchain Communication (IBC) and Ethereum Virtual Machine (EVM) ecosystems easily accessible. With native USDt issued on Kava, limited growth of the Cosmos ecosystem, fragmented liquidity, and excessive volatility are addressed by adding native issued USDt to users and developers. Native USDt features the Cosmos dApp and appchains, and EVM users the secure and universally adopted canonical stablecoin dApp.
Scott Stuart, Co-Founder of Kava, expressed his delight at the successful integration, “Our support for the USDt Tether integration unlocked much needed stablecoin liquidity across the Cosmos and EVM ecosystems. Tether’s choice makes Kava a key supporter and powerful ally for the Cosmos ecosystem project building the Internet of Blockchains.”
Unlike external third-party bridge solutions that create fragmented pools of encapsulated assets, with the launch of Kava 14, Kava-issued USDt can move between IBC and EVM blockchains via an ‘internal bridge’ with strict access controls and restrictions that greatly reduce attacks. vector. Kava makes assets move across the chain quickly and highly securely and provides users with an efficient mechanism for the supply and transfer of stablecoin liquidity.
As a result, this integration has the potential to catalyze significant expansion of the DeFi economy at Cosmos, providing a compelling solution to challenging liquidity problems since the collapse of UST Terra in Q1 2022. Deployment of Tether, a stablecoin with a strong market reputation and ~65% dominance, will also offer improvements security and reliability for users and developers.
Paolo Ardoino, CTO at Tether stated, “The Kava Network is a unique and widely followed blockchain with a strong four-year track record of zero security issues, which is essential for protecting USDt users. Together, we aim to reshape the future of decentralized finance, driving a strong and inclusive ecosystem that benefits users around the world.”
Kava (kava.io) is a secure and lightning-fast Layer-1 blockchain that combines the developer power of Ethereum with the speed and interoperability of Cosmos in one scalable network. Committed to driving innovation and growth, Kava is the trusted choice for developers and users worldwide.
For more updates, follow Kava on Twitter.
Disclaimer
This press release does not constitute an offer to sell or a solicitation to buy USDt or KAVA tokens.
Contact
Media Manager
Guillermo Carandini
Kava
guillermo.carandini@kava.io
