- The launch on Algorand brings the number of blockchains running Tether to five.
- “Extending Tether into the Algorand ecosystem is a fantastic opportunity,” Algorand CTO.
The leading stablecoin. Tether announced on July 17 that it was going to launch on another blockchain referred to as Algorand. The launch will bring the number of blockchains Tether executes on to five. The other blockchains include Ethereum, Omni, Tron, and EOS.
“Extending Tether into the Algorand ecosystem is a fantastic opportunity for us to further contribute to blockchain interoperability and collaboration,” stated the CTO of Tether Paolo Ardoino.
Tether said in regards to the collaboration:
“Algorand is an excellent team very much aligned with ours; we are proud to take this next step with them. We are very excited about the potential this enables for other projects in the decentralized ecosystem and we eagerly await working closely with many of them in the future.”
Tether has been in existence since 2014 but started trading on cryptocurrency exchanges in February 2015. The stablecoin has been widely accepted by cryptocurrency exchanges due to its ability to remain as stable as other fiat currencies.