Aptos Foundation has partnered with SK Telecom to bring Tether’s USDT stablecoin to the T Wallet.
Aptos Foundation will integrate Tether’s stablecoin (USDT) into SK Telecom’s web3 product, called “T wallet,” in an effort to expand access to stablecoins through a well-known platform used by millions of SK Telecom customers.
In a press release shared with crypto.news on Friday, the foundation said the integration, supported by SK Telecom’s PASS app, will allow users to access USDT on the Aptos blockchain with minimal friction, making traditional finance are bridged with decentralized systems.
SK Telecom, the country’s largest telecom operator, sees the partnership as crucial for mainstream web3, with Oh Sehyeon, vice president of SK Telecom’s web3 division, saying the company shares a vision “with key web3 players such as Tether to expand access to digital assets and decentralized networks to more people, based on our decades of telecom expertise.”
You might also like: Aptos rises 20% in 24 hours, open interest reaches six-month high
The partnership leverages SK Telecom’s extensive customer base of more than 30 million people and offers T-wallet as an entry point for stablecoin usage.
Tether added support for Aptos Network in mid-August, highlighting the blockchain’s “robust developer community” as a key factor for the expansion, and noting the network’s “steady increase in the number of deployed contracts, indicative of active and ongoing development .”
In addition to development activities, Tether says the decision to add support for Aptos was driven by the network’s “extremely low gas costs,” making the network “economically viable for a broader range of use cases, from microtransactions to large-scale enterprise operations.”
Read more: Chinese public telecom provider Coolpad Group allocates $13.5 million to buy Bitcoin mining rigs