The largest stablecoin issuer in the world is announcing its expansion ontp Kava (KAVA), an interoperable layer-1 blockchain.
In a new press release, Tether (USDT) says that its dollar-pegged crypto asset will be launching over the Kava network, sending the decentralized finance (DeFi) platform’s price skyrocketing.
[adinserter block=”1″]
KAVA is trading for $0.934 at time of writing, a significant 12.9% increase during the last 24 hours.
Paolo Ardonio, the chief technology officer (CTO) of Tether, commended the network’s security in the press release.
“We’re thrilled to be launching USDT on Kava, offering its strong community access to the world’s first, most stable, most trusted, and most widely used stablecoin. The Kava network is a unique and widely followed blockchain with a robust track record of four years with zero security issues, which is essential to protecting USDT users.
Together, we aim to reshape the future of decentralized finance, fostering a robust and inclusive ecosystem that benefits users worldwide.”
Besides Kava, USDT currently operates on Ethereum (ETH), Polkadot (DOT), Solana (SOL), TRON (TRX), and the BNB Chain.
Last week, Tether addressed reports that it once held Chinese securities after its disclosures were made public as part of a plea settlement with the New York Attorney General (NYAG) who accused the firm of not responsibly backing the reserves of its stablecoin.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Tumblr
Surf BitcoinLinux Mix
Check Latest Coin Values at CoinPrice.Watch
 
[adinserter block=”5″]
Disclaimer: Opinions expressed at BitcoinLinux are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. BitcoinLinux does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is BitcoinLinux an investment advisor. Please note that BitcoinLinux participates in affiliate marketing.
Featured Image: Shutterstock/SVPanteon
The post Tether (USDT) Announces Expansion Onto Kava, CTO Commends Blockchain’s Security Level appeared first on BitcoinLinux.
 Announces Expansion Onto Kava, CTO Commends Blockchain’s Security Level){kind=link}