- The partnership between Tether and OKX Chain will provide smarter, more efficient and more affordable on-chain trading for users
- OKC is a secure, programmable and low-cost smart contracts platform that has featured over 130 projects in the past year
OKX, the world-leading cryptocurrency platform, today announced that Tether’s USDT stablecoin, the EURT Euro-pegged stablecoin and Tether Gold (XAUT) have come to OKX Chain (OKC).
The launch of USDT on OKC not only reduces the cost of making deposits and withdrawals, but enables faster speeds. This means users enjoy faster USDT transfers with an average cost per transaction of just $0.0001. The fact that Tether has officially issued a licensed smart contract to OKC means that USDT investors also enjoy greater security when trading on OKC. OKX Chain is only the 12th public chain in the world on which Tether, one of the world’s largest stablecoins by market cap, is listed.
Lennix Lai, Director of Financial Markets, OKX, said: “Tether only lists USDT on some of the most prominent and successful public blockchains in the world, so we are delighted to welcome USDT to OKX Chain. OKX Chain is one of the few public chains that exists at the intersection of Ethereum and Cosmos, which means that users can enjoy the benefits offered by both ecosystems. Tether is one of the most successful stablecoins out there, and we are delighted to be adding new bridges and trading pairs to help further expand the Tether ecosystem.”
OKC’s partnership with Tether marks the first time USDT has been officially issued to a Cosmos-powered ecosystem, with its EVM compatibility allowing OKC to connect USDT and Cosmos. This enables users to participate in the IBC/Cosmos ecosystem with only their OKX wallet, without the need to download a separate wallet extension. Cosmos is an ecosystem of blockchains designed to scale and interoperate between one another.
Paolo Ardoino, CTO, Tether, said: “Tether is excited to collaborate with OKX to support the growth of OKX Chain across many new use-cases including GameFI and Web3.”
In addition to USDT coming to OKX Chain, the partnership sees both EURT and Tether Gold come to the blockchain. While EURT is a stablecoin pegged to the Euro, Tether Gold is a digital token backed by physical gold.
