USDT, the largest stablecoin with a market cap of $74 billion, will now also be available on the Polygon blockchain. Thus, USDT can now be used on Ethereum, Solana, Avalanche, Algorand, Tron, Omni, EOS, Liquid Network, Kusama and Bitcoin Cash's Standard Ledger Protocol.

The addition of USDT will give users of Polygon, the Ethereum scaling platform, a chance to leverage the chain's decentralized finance ecosystem and earn returns there. As it is known, there are currently more than 19 thousand decentralized applications on Polygon.

Polygon, which has processed more than 1.6 billion transactions so far, has $5 billion worth of locked assets. There are also 142 million unique addresses in the ecosystem.

Polygon Matic-1

Evaluating that USDT can now be used in Polygon, Tether CTO Paolo Ardoino stated that Polygon has shown a historical rise and used the following statements:

   “We are excited to launch USDT on Polygon. In this way, Polygon offers its users the most liquid, stable and reliable stablecoin. Polygon has shown a historic growth in the last 1 year and we as Tether will contribute to the continuation of this rise. We are happy to be an element.”

Tether Usdt-1

The two networks where USDT is used the most are Ethereum and Tron. The two networks cover about 72 billion USDT, with a combined market cap of $74 billion. The fact that the Ethereum network is very expensive and relatively slow makes the Tron network stand out in this sense.

On the other hand, Tether, the issuer of USDT, also issued a coin pegged to the Mexican peso yesterday. The abbreviation of the newly released coin will also be MXNT. Tether is also known to have coins fixed to the euro (EURT) and Chinese yuan (CHNT). Mexico, one of the countries with inflation problems, is one of the countries where the use of cryptocurrencies is increasing.