Tether expands USDT to Aptos blockchain for lower fees

Tether's USDT has officially launched on the Aptos blockchain, promising to revolutionize digital currency transactions with ultra-low fees.

In a recent announcement shared with Cointelegraph, Tether revealed its new USDT token on Aptos, designed to reduce transaction costs significantly. This move is part of Tether's broader strategy to enhance global access and utilization of digital currencies.

By leveraging Aptos’s blockchain technology, which offers high scalability and rapid processing speeds, Tether aims to deliver "extremely low gas fees," costing just a fraction of a penny. This integration will make transaction fees more "economically viable" for a range of applications, from microtransactions to large-scale enterprise operations.

In related news, on August 10, the now-defunct cryptocurrency exchange Celsius filed a $3.5 billion lawsuit against Tether. Celsius alleges that Tether misappropriated assets by loaning USDT during the exchange’s bankruptcy proceedings. In return, Celsius provided Tether with 39,543.42 BTC as collateral. The lawsuit claims that Tether liquidated the BTC in a manner that nearly matched the debt, without allowing Celsius to offer additional collateral.

Source: https://cointelegraph.com/news/tether-launches-usdt-aptos-blockchain-lowering-transaction-costs