Tether Expands USDT to Aptos Blockchain, Targeting Low-Cost Transactions
Tether Operations Limited, the company behind the world’s largest stablecoin by market capitalization, has announced plans to launch its U.S. dollar-pegged Tether tokens (USDT) on the Aptos Network. The move, revealed on August 19, 2024, is part of Tether’s broader strategy to enhance the accessibility and functionality of digital currencies globally.
The integration aims to leverage Aptos’ advanced blockchain technology, known for its exceptional speed and scalability. Aptos, a layer-1 blockchain developed by former Facebook employees, has shown significant growth in recent months. The network reported an increase in average daily active users from 96,000 in January to 170,000 in July 2024, with a record-breaking 157 million transactions processed in a single day in May 2024.
A key advantage of this integration is the extremely low gas fees offered by the Aptos network. Transactions are expected to cost only a fraction of a penny, making USDT more economically viable for a wide range of use cases, from microtransactions to large-scale enterprise operations.
Paolo Ardoino, CEO of Tether, expressed enthusiasm about the collaboration, stating, “Aptos’ innovative technology offers a solid platform for facilitating faster and more cost-effective transactions with USDT. This collaboration underscores our ongoing efforts to lead with innovation and support our users with stable, reliable financial tools.”
Mo Shaikh, CEO of Aptos Labs, echoed this sentiment, highlighting the significant milestone this represents for the Aptos ecosystem. He emphasized the network’s capability to process massive volumes and rapidly grow its user base.
The integration is expected to benefit from Aptos’ robust developer community and steady increase in deployed contracts, indicative of active and ongoing development on the platform. This move aligns with Tether’s expansion across various blockchain networks, although the majority of USDT supply remains concentrated on the TRON and Ethereum networks.
While Tether continues to expand its blockchain portfolio, it has also scaled back support for certain networks. In June, the company announced plans to cease support for multiple stablecoins on platforms like Omni, Kusama, SLP, EOS, and Algorand starting from September 2025, citing a focus on balancing maintainability, usage, and community interest.
