Tether’s Legacy Mesh continues to transform the manner stablecoins operate across numerous chains.
Today, Celo, a layer-1 protocol, disclosed that Tether’s new stablecoin, USDT0, is now live on the Proof-of-Stake blockchain.
Advancing Liquidity and Interoperability
The rollout of USDT0 on Celo is a huge advancement for the stablecoin and blockchain sectors.
According to the announcement, the launch is crucial as it enables efficient movements of Celo’s main stablecoin, USDT, to and fro across more than 13 other supported blockchains, including Ethereum, Tron, Arbitrum, TON, and others.
Tether’s Legacy Mesh is a network unveiled in February this year, created to link existing USDT applications with across numerous chains (Berachain, Ink, Arbitrum, TON, Tron, and Ethereum) into an integrated system.
This network functions as a bridge, enabling smooth and cost-efficient USDT movements between these chains without depending on third-party bridges.
LayerZero acts as a cross-chain liquidity layer supporting this system, streamlining USDT movements across networks while enhancing the experience for both customers and builders.
This network removes the need for frequent, sophisticated, and expensive third-party bridges for USDT. It simplifies trades, decreases disintegration, and facilitates more seamless transfers of money.
Celo’s Growing Network
Tether launched USDT0 in January to resolve the problem of fragmentation of stablecoins across chains. With the support of LayerZero’s infrastructure, USDT0 facilitates seamless multi-chain transfers, decreases gas fees, and improves capital utilization.
USDT stablecoin is already the biggest stable asset in the globe. However, its liquidity flowing across various blockchains is fragmented, making it hard for the stable token to move seamlessly. Expensive cross-chain transaction costs have been a serious impediment of ordinary investors. USDT0 is meant to resolve these challenges.
The capability of seamlessly moving USDT between Celo and other blockchains makes Celo a prominent network for stablecoin utility. Thanks to today’s integration, investors and builders on Celo can now access wider USDT liquidity pools across a broad variety of ecosystems.
This launch cements Celo’s position as a major participant in the stablecoin sector. Having USDT as the native stablecoin in the network, besides its own stablecoins (like cUSD) and other supported ones (like USDC) increases Celo’s appeal for DApp deployment and mainstream acceptance.
