Tether, a popular stablecoin, has recently announced the addition of native USDT on the Celo blockchain. This move will allow Celo ecosystem partners, including those involved in P2P payments, lending, and remittances, to leverage the stablecoin for their operations.
The integration of USDT on the Celo mainnet is a significant step in the platform’s adoption of stablecoins and real-world assets. According to the Celo Foundation, this expansion will bring USDT to over 1,000 partners in 150 countries, including Opera MiniPay’s ultralight stablecoin wallet in Kenya and Ghana.
The partnership between Tether and Celo was initially announced on March 11, with Tether CEO Paolo Ardoino commenting that it was a crucial step in their mission to bring crypto to millions of people worldwide. He also mentioned that Celo’s unique capabilities would enhance the usability and accessibility of Tether.
With the launch of USDT on Celo, core network contributor cLabs has proposed using the stablecoin as the official gas fee token. This move will allow more than 1,000 builders across 150 countries to tap into USDT for various use cases, including on-chain savings, lending, P2P transactions, remittances, and cross-border payments.
Some of the notable Celo ecosystem partners that will be utilizing the native USDT support on the blockchain include Ammer Pay, Bitmama, Yellow Card, and HaloFi. These platforms offer services such as point of sale solutions, crypto-fiat exchanges, regulated stablecoin on/off ramps, and DeFi opportunities.
In summary, the addition of USDT on the Celo blockchain is a significant development that will bring more accessibility and usability to the stablecoin. This move will also further the adoption of stablecoins and real-world assets in the Celo ecosystem, ultimately benefiting its partners and users.
