Native USDT has been unlocked on Cosmos.
Tether’s USDt, 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.
Integrating Tether’s USDt into Kava provides easy access to deep stablecoin liquidity across Cosmos’ Inter-Blockchain Communication (IBC) and Ethereum Virtual Machine (EVM) ecosystem. With native USDt minted on Kava, the limited growth, decentralized liquidity, and exaggerated volatility of the Cosmos ecosystem are addressed by adding natively minted USDt for users and developers. Native USDt provides users of Cosmos dApps, AppChain, and EVM dApps with a secure, universally adopted standard stablecoin.
Scott Stuart, co-founder of Kava, commented on the successful integration: “Our support for Tether’s USDt integration provides much-needed stablecoin liquidity across the Cosmos and EVM ecosystems. Tether’s selection makes Kava a key supporter and strong ally of the Cosmos ecosystem project building the blockchain internet.”
Unlike external third-party bridging solutions that create fragmented pools of wrapped assets, with the launch of Kava 14 USDt minted natively on Kava can be accessed through an ‘internal bridge’ that significantly reduces attacks through strict access controls and restrictions on IBC. You can move between and EVM blockchains. vector. Kava makes cross-chain asset movement fast and secure and provides users with an efficient mechanism for providing and transferring stablecoin liquidity.
As a result, this integration could potentially fuel significant expansion of the DeFi economy on Cosmos, providing a powerful solution to the liquidity issues Terra has been struggling with since its UST collapse in Q1 2022. We deploy Tether, a stablecoin with a strong market. Reputation and up to 65% dominance will provide improved security and stability for both users and developers.
Paolo Ardoino, CTO of Tether, said: “The Kava Network is a unique and widely followed blockchain with a strong track record of four years without any security issues, which is essential to protecting USDt users. Together, we aim to reshape the future of decentralized finance and create a strong and inclusive ecosystem that benefits users around the world.”
Kava (kava.io) is a secure, ultra-fast Layer 1 blockchain that combines the developer power of Ethereum with the speed and interoperability of Cosmos in a single, scalable network. Committed to fostering innovation and growth, Kava is the trusted choice for developers and users around the world.
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disclaimer
This press release is not an offer to sell or a solicitation of an offer to buy USDt or KAVA tokens.
contact
media manager
Guillermo Carandini
Kava
guillermo.carandini@kava.io