Critical Move From Tether: 1 Billion USDT

Tether has minted the second $1 billion USDT in less than two months. While many experts argue that the press is due to the huge interest in cryptocurrencies, Paolo Ardoino, CTO of Tether company, said that the issue is about facilitating cross-chain swaps:

Tether often works with different third-party institutions, including hedge funds and exchanges. It helps them balance USDT liquidity on different chains. For example, some exchanges, once they start supporting USDT on different chains, may end up holding most of the USDT on only one chain. Sometimes, though, they have to shoot from one chain to the next. That’s why these third-party institutions want to do chain swaps. That’s why we made this edition.

As is known, cross-chain swaps take place via bridges and allow users to move assets to different blockchains. As it will be remembered, Tether last printed 1 billion dollars USDT in April. This edition was also on the Ethereum chain. 1 billion USDT printed at the time of writing the news has not been added to the total market value and still has not been left by the Tether company.