Key Takeaways:
- Tether's USDT stablecoin is now available on the Conflux (CFX) network eSpace.
- Users can bridge USDT from Ethereum using the official usdt0.to portal.
- The move is part of Tether's strategy to expand across multiple blockchains.
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Tether USDT Bridge to Conflux Goes Live on April 13
Tether's USDT stablecoin went live on the Conflux network on April 13, enabling transfers from Ethereum and expanding the stablecoin's presence as part of its omnichain strategy.
The cross-chain bridge is accessible via the official usdt0.to portal, according to an announcement from Tether. This allows for the seamless transfer of the dollar-pegged stablecoin to Conflux's eSpace, which is compatible with the Ethereum Virtual Machine.
The integration is expected to significantly enhance the Conflux DeFi ecosystem. The availability of native USDT, the largest stablecoin with a market capitalization over $100 billion, provides a crucial liquid asset for trading pairs, lending protocols, and yield farming applications on the network.
For Conflux, a permissionless layer-1 blockchain, attracting a native version of USDT is a key step in competing for users and capital with other Ethereum-compatible chains. This could lead to a material increase in Total Value Locked (TVL) and boost demand for its native CFX token.
The expansion to Conflux continues Tether's multi-chain strategy, which aims to make USDT accessible across a wide range of blockchain networks. Conflux is a hybrid proof-of-work and proof-of-stake blockchain that aims to provide scalability, security, and decentralization. The availability of USDT is a foundational piece for any emerging DeFi ecosystem.
This article is for informational purposes only and does not constitute investment advice.
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