The largest stablecoin issuer in the world is announcing its expansion ontp Kava (KAVA), an interoperable layer-1 blockchain.
KAVA is trading for $0.934 at time of writing, a significant 12.9% increase during the last 24 hours.
Paolo Ardonio, the chief technology officer (CTO) of Tether, commended the network’s security in the press release.
“We’re thrilled to be launching USDT on Kava, offering its strong community access to the world’s first, most stable, most trusted, and most widely used stablecoin. The Kava network is a unique and widely followed blockchain with a robust track record of four years with zero security issues, which is essential to protecting USDT users.
Together, we aim to reshape the future of decentralized finance, fostering a robust and inclusive ecosystem that benefits users worldwide.”
Last week, Tether addressed reports that it once held Chinese securities after its disclosures were made public as part of a plea settlement with the New York Attorney General (NYAG) who accused the firm of not responsibly backing the reserves of its stablecoin.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/SVPanteon