Tether’s CTO Unveils RGB-USDT & 3 New Products

Tether's CTO Unveils RGB-USDT & 3 New Products

Tether, the entity responsible for the issuance of the USD-pegged stablecoin USDT, has officially declared the discontinuation of its support for three distinct blockchains, specifically OmniLayer, BCH-SLP, and Kusama.

While customers shall retain the capability to exchange and redeem their existing USDT tokens on the blockchains, as mentioned above, Tether will no longer issue fresh USDT tokens on these platforms. This strategic determination has been motivated by the enduring challenges encountered by the Omni Layer over time, which encompass the scarcity of widely accepted tokens and the prevailing accessibility of USDT on alternative blockchains.

Paolo Ardoino, Tether’s Chief Technology Officer, has articulated the company’s active involvement in advancing the Bitcoin extension protocol RGB. This initiative is poised to facilitate the listing of RGB-denominated USDT eventually. Furthermore, Tether has outlined its intent to introduce three substantial products before the conclusion of the current year.

In fact, we are actively contributing to developing RGB, alongside to bitfinex and Fulgur Ventures, a client-side validated state and smart contracts system operating on Layer 2 and 3 of the Bitcoin ecosystem.

RGB constitutes a state and smart contracts system that undergoes validation on the client side. It operates within the Layer 2 and Layer 3 realms of the Bitcoin ecosystem, demonstrating dual functionality across the on-chain domain (Bitcoin L1) and the Lightning Network. This implementation offers a distinct promise of exceptional scalability.

Tether firmly believes that RGB is poised to introduce a novel epoch for digital assets, smart contracts, and digital rights. This sentiment is bolstered by robust backing from prominent stakeholders within the industry. Upon the deployment of USDT on the RGB platform, the global stage will bear witness to the integration of USDT onto an alternate, highly potent, and scalable stratum of the Bitcoin infrastructure.

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