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Tether launched the native stablecoin USDt in the Cosmos ecosystem based on Kava
According to official news, the USDt issued by Tether has been successfully launched on Cosmos through Kava, which is an important milestone in the expansion of the Cosmos DeFi ecosystem.
Through the integration of Kava in Cosmos, USDt brings liquidity convenience to the IBC and EVM ecosystems of Cosmos, and also solves the problems of limited growth, decentralized liquidity and high volatility of the Cosmos ecosystem, providing users and developers with A safe and widely accepted standard stablecoin.
Kava co-founder Scott Stuart said: Our support for the Tether USDt integration brings much-needed stablecoin liquidity to the Cosmos and EVM ecosystem. The choice of Tether makes Kava an important support for Cosmos ecosystem projects.
Unlike external third-party bridging solutions, the launch of Kava 14 enables USDt issued natively on Kava to flow between the IBC and EVM blockchains through an “internal bridge”, enabling Kava to quickly and highly securely transfer between chains Assets, and provide users with an effective mechanism for stablecoin liquidity provision and transfer.
Therefore, this integration will drive a significant expansion of the DeFi economy on Cosmos, providing an excellent solution to the liquidity problem that has been present since the collapse of UST in Q1 2022. Deploying a Tether stablecoin with a strong presence and a 65% market share will provide users and developers with greater security and reliability.
Paolo Ardoino, CTO of Tether, said: The Kava network is a unique and well-received blockchain with a four-year record of stable operation without security issues, which is crucial to protecting USDt users. Together, we are committed to reshaping the future of decentralized finance, promoting a strong and inclusive ecosystem that benefits users worldwide.
It is reported that Kava (kava.io) is a secure, high-speed Layer-1 blockchain that combines the developer capabilities of Ethereum with the speed and interoperability of Cosmos.