There has been a remarkable new development in the cryptocurrency world. A new blockchain project called “Stable” supported by USDT0, an initiative associated with the Bitfinex exchange and Tether, has been announced. Tether CEO Paolo Ardoino is one of the project advisers.
This new chain, called “Stable”, will use USDT, the world’s largest stablecoin, for transaction costs (gas costs). The target group for the chain, which is still in the development phase, will not be individual users, but rather financial institutions. The development team prefers to remain anonymous and only describes the team as “Protocol gingerions, fintech -executives and crypto entrepreneurs.”
According to information that is shared on the social media platform X of the project, the most important promise of the chain “Enterprise Lanes” will be for company users, that is, special paths that make faster transactions possible. “Only USDT has a daily transaction volume of more than $ 100 billion. However, the current infrastructure is volatile, precious and fragmented,” the developers said.
With a market value of more than $ 154 billion, Tether is the leader in the Stablecoin market. Circle’s USDC follows with a value of $ 61 billion. Circle’s shares, which were made public this week, were quickly won after starting trade on the New York Stock Exchange.
*This is not investment advice.