Native USDT unlocked in Cosmos.
Tether’s USDt, the world’s most liquid, secure and transparent stablecoin, successfully launched on Cosmos via Kava, marking a significant milestone in the expansion of the Cosmos DeFi ecosystem.
Tether’s USDt integration into Kava provides easy access to deep stablecoin liquidity across Cosmos’ Inter-Blockchain Communication (IBC) and Ethereum Virtual Machine (EVM) ecosystems. With native USDt issued in Kava, you can address the limited growth, fragmented liquidity, and exaggerated volatility of the Cosmos ecosystem by adding natively issued USDt for your users and developers. Native USDt brings a secure, widely adopted and legitimate stablecoin to Cosmos dApps and AppChains, as well as EVM dApp users.
Kava co-founder Scott Stuart expressed his excitement over the successful integration. “Our support for Tether’s USDt integration will unlock much-needed stablecoin liquidity across the Cosmos and EVM ecosystems. Tether’s selection makes Kava an important support and strong ally for the Cosmos ecosystem project building the Internet of Blockchains.”
Unlike external third-party bridge solutions that create fragmented pools of wrapped assets, with the release of Kava 14, USDt issued natively on Kava will be able to travel between the IBC and EVM blockchains via an “internal bridge” with strict access controls and restrictions that significantly reduce attack vectors. Kava makes the movement of assets between chains fast and highly secure, providing users with an efficient mechanism for stablecoin liquidity provision and transfer.
As a result, this integration could fuel a significant expansion of the DeFi economy on Cosmos and provide a compelling solution to liquidity issues that have been thorny since Terra’s UST collapse in Q1 2022. A stablecoin with a strong market reputation and up to 65% dominance, the introduction of Tether will also provide increased security and reliability for both users and developers.
Tether CTO Paolo Ardoino said: “The Kava network is a unique and widely-adopted blockchain with a solid four-year track record of zero security issues and is essential to protecting USDt users. Together, we aim to reshape the future of decentralized finance and foster a robust and inclusive ecosystem that benefits users around the world.”
Kava (kava.io) is a secure, ultra-fast layer 1 blockchain that combines the development power of Ethereum with the speed and interoperability of Cosmos in a single scalable network. Committed to fostering innovation and growth, Kava is the trusted choice for developers and users around the world.
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This press release is not an offer to sell or a solicitation of an offer to buy USDt or KAVA tokens.