OKX announces that Tether is now available on its OKC blockchain

• The collaboration between Tether and OKX Chain will provide smarter, more efficient and cheaper on-chain trading for users

• OKX Chain is a secure, programmable and reasonably smart contract platform that has shown over 130 projects in the last year

VICTORIA, Seychelles, July 13, 2022 (GLOBE NEWSWIRE) – OKXthe world-leading cryptocurrency platform, today announced that Tether’s USDT stablecoin, EURT Euro-pegged stablecoin and Tether Gold (XAUT) have joined OKX Chain (OKC).

The launch of USDT at OKC not only reduces the cost of making deposits and withdrawals, but enables greater speeds. This means that users enjoy faster USDT transfers with an average cost per transaction of only $ 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 stable coins by market value, is listed.

Lennix Lai, Director of Financial Markets, OKX, said: Tether only shows USDT on some of the most prominent and successful public blockchains in the world, so we are pleased to welcome USDT to OKX Chain. OKX Chain is one of the few public chains that exist at the intersection of Ethereum and Cosmos, which “means users can enjoy the benefits of both ecosystems. Tether is one of the most successful stable coins out there, and we are excited to add new bridges and trading pairs to help further expand the Tether ecosystem.”

OKC’s EVM compatibility allows it to connect USDT with Cosmos. The collaboration with Tether therefore marks the first time USDT has been officially issued to a cosmic ecosystem. This allows users to participate in the IBC / Cosmos ecosystem with only the OKX wallet, without having to download a separate wallet extension. Cosmos is an ecosystem of blockchains designed to scale and interact with each other.

The story continues

Paolo Ardoino, CTO, Tether, on: “The launch of Tether at OKC marks its debut on a Cosmos EVM chain. We are pleased to partner with OKX to support the growth of the OKX Chain across many new uses.”

In addition to the USDT coming to the OKX Chain, the partnership sees both EURT and Tether Gold coming to the OKX blockchain. While EURT is a stable currency linked to the euro, Tether Gold is a digital token backed by physical gold.

For further information, please contact:
[email protected]

About OKC
OKC is a secure and programmable smart contract platform for next-generation decentralized applications, supported by OKX, one of the largest crypto exchanges. The technology built into the chain was specifically designed for high-performance trading activities and lower-cost financial services, making it a great match for many DeFi protocols, NFTs and other Metaverse applications.

About Tether
Tether is the prominent stable coin with the largest market value, surpassing all rival deals combined. Tether was created in October 2014 and has grown to become the most traded cryptocurrency. Tether disrupts the old financial system by offering a more modern approach to money. By introducing fiat currency digital cash to bitcoin, Ethereum, EOS, Liquid Network, Omni, Tron, Algorand and Solana blockchains, as well as smart contract platform, Avalanche, Tether makes a significant contribution to a more connected ecosystem. Tether combines digital currency benefits, such as immediate global transactions, with traditional currency benefits, such as price stability. With a commitment to transparency and compliance, Tether is a fast and affordable way to trade for money.

About OKX
OKX is a leading crypto trading app and a Web3 ecosystem. Approved by more than 20 million global customers in over 180 international markets, OKX is known for being the fastest and most reliable crypto trading app for investors and professional traders globally.

To learn more about OKX, download our app or visit: okx.com