According to official sources, the USDt issued by Tether has successfully launched on Cosmos via Kava, marking an important milestone in the expansion of the Cosmos DeFi ecosystem.
Through integration with Kava on Cosmos, USDt brings liquidity convenience to the IBC and EVM ecosystems of Cosmos, while solving the problems of limited growth, liquidity dispersion, and high volatility of the Cosmos ecosystem, providing users and developers with a secure and widely accepted standard stablecoin.
Scott Stuart, co-founder of Kava, said: Our support for the integration of Tether USDt brings much-needed stablecoin liquidity to the Cosmos and EVM ecosystems. Tether’s choice makes Kava an important supporter of Cosmos ecosystem projects.
Unlike external third-party bridging solutions, the launch of Kava 14 enables USDt natively issued on Kava to flow between IBC and EVM blockchains via “internal bridging”, allowing Kava to quickly and highly secure transfer assets between chains and provide users with an effective mechanism for stablecoin liquidity provision and transfer.
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Therefore, this integration will significantly expand the DeFi economy on Cosmos, providing high-quality solutions to the liquidity problems that have existed since the collapse of UST in the first quarter of 2022. The deployment of Tether stablecoin, which has a strong influence and 65% market share, will provide users and developers with higher security and reliability.
Blockingolo Ardoino, CTO of Tether, said: Kava Network is a unique and highly anticipated blockchain with a four-year track record of stable operation without security issues, which is critical to protecting USDt users. We are jointly committed to reshaping the future of decentralized finance, promoting a powerful and inclusive ecosystem, and benefiting users worldwide.
It is reported that Kava (kava.io) is a secure and high-speed Layer-1 blockchain that combines the developer capabilities of Ethereum with the speed and interoperability of Cosmos.
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