• Tether (USDT) has launched on Kava, a blockchain platform that operates on the Cosmos network.
• Native USDt issued on Kava will provide deep stablecoin liquidity across the Cosmos and Ethereum Virtual Machine (EVM) ecosystems.
• The integration of USDt on Kava could potentially catalyze a significant expansion of the DeFi economy on Cosmos.
Tether Launches USDt on Kava
Tether’s USDt, the world’s most liquid, secure and transparent stablecoin, has successfully launched on Cosmos via Kava. This integration unlocks much-needed stablecoin liquidity across both the Cosmos IBC (Inter-Blockchain Communication) and EVM (Ethereum Virtual Machine) ecosystems for users and developers alike. With native USDt issued on Kava, users can now move assets between chains quickly and securely while providing efficient mechanisms for stablecoin liquidity provision and transfer.
Benefits of Tether’s Integration
The integration of Tether’s USDt brings great benefits to users in the Cosmos ecosystem, such as addressing limited growth, fragmented liquidity and exaggerated volatility associated with other blockchains. By deploying Tether – a universally adopted canonical stablecoin with strong market reputation – users will be provided with increased security and reliability. Furthermore, this integration could potentially catalyze a significant expansion of the DeFi economy on Cosmo which would help address liquidity issues since Terra’s UST collapse in Q1 2022.
Kava’s Role in Stablecoin Liquidity
Kava is an important ally for projects building out the Internet of Blockchains as it provides support for Tether’s USDt integration by unlocking necessary stablecoin liquidity across both Cosmos and EVM ecosystems. With natively issued USDt via Kava 14, assets are able to move between IBC and EVM blockchains through an ‘internal bridge’ which ensures tight access controls while reducing attack vectors significantly.
Reaction from Co-founder Scott Stuart & CTO Paolo Ardoino
Scott Stuart, co-founder of Kava expressed his excitement for this successful integration: “Our support for Tether’s USDt integration unlocks much needed stablecoin liquidity across the Cosmos and EVM ecosystems”. On top of that, CTO Paolo Ardoino said “The Kava network is a unique and widely followed blockchain with a robust track record of four years with zero security issues.”
With everything being said above it is clear that Tether’s successful launch on Kava marks a significant milestone in expanding the overall Decentralized Finance ecosystem within Cosmos networks. It is expected that these advancements will foster greater security & reliability to users worldwide while also giving them access to efficient mechanisms for better asset management & transfer within different blockchains.