The post Tether Blockchain Plan Dropped, USDT Security Prioritized appeared first on Coinpedia Fintech News
Earlier this year, rumors spread that Tether was preparing to launch its own blockchain, sparking excitement in the crypto community. Some even called it a groundbreaking move. However, Tether’s CEO, Paolo Ardoino, has recently announced a change of plans.
What’s behind this shift? Let’s explore.
Tether’s New Direction: No New Blockchain
According to a recent statement from Tether CEO Paolo Ardoino, the company has decided to scrap its plan to create a new blockchain. Ardoino noted that the blockchain market is already crowded, making it less viable for a new entrant. This marks a notable change in Tether’s strategy.
According to Bloomberg, Tether Holdings, the issuer of the stablecoin USDT, recently said that the company has abandoned plans to launch its own blockchain. As long as the highest level of security and sustainability can be ensured, it does
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