Tether will launch USDT on the Aptos network, promising very low gas fees and global accessibility

Stablecoin issuer Tether has revealed plans to launch Tether tokens pegged to the US dollar (USDT) on the Aptos Network.

This move aligns with Tether’s broader strategy to make the digital currency more accessible and useful around the world by leveraging the Aptos ecosystem, according to the official press release shared with CryptoPotato.

USDT is ready to debut on Aptos

The integration of USDT into the Aptos blockchain is expected to bring extremely low gas fees, costing only a fraction of a cent. In addition to drastically reducing transaction costs, this will make it economically viable for a variety of applications, from microtransactions to large-scale business operations.

The ultimate goal of this strategic partnership between Tether and Aptos is to attract users from different economic backgrounds.

Commenting on the matter, Tether CEO Paolo Ardoino said:

“The Tether team is excited to integrate and collaborate with the Aptos ecosystem, furthering our commitment to making digital currencies more accessible and functional. Aptos’ innovative technology provides a strong platform for facilitate faster and more profitable transactions with USDT. This collaboration highlights our continued efforts to lead innovation and support our users with stable and reliable financial tools.”

Bashar Lazaar, Head of Grants and Ecosystems at the Aptos Foundation also emphasized the network’s intention to create a strong and global DeFi and payments ecosystem that prioritizes speed, decentralization and interoperability. He highlighted the use of Move, a programming language in Aptos, as a key factor in making this vision a reality.

As such, Lazaar believes the launch of USDT on Aptos marks an important milestone, accelerating the availability and utility of real-world value for institutions, Web3 developers, and everyday users globally.

Expansion of ligaments

This week, Tether’s USDT reached a market cap of $115 billion, cementing its position as the third largest crypto asset and the leading stablecoin with nearly 70% market share, according to data compiled by rwa.xyz.

In terms of expansion, Ardoino has focused on investing in Tether’s growing profits since he became CEO in December 2023. A portion of the funds have gone to bolster the USDT reserve, and the funds remaining were channeled to Tether Evo, the company’s venture investment arm.

This division has already made notable investments, including acquiring a controlling stake in neural implant technology company Blackrock Neurotech and backing Northern Data Group, a data center operator that supports the training AI models.

Earlier this month, Tether also announced plans to double its workforce by mid-2025, with the goal of increasing compliance and other key areas. The company expects to grow its team to around 200 employees and will also expand its finance department managing USDT’s $118 billion in supporting assets.

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