Tether launches its dollar-pegged stablecoin on ether-native polygon

Stablecoin issuer Tether is expanding further into the cryptocurrency space after rolling out its USDT (USDT-USD) stablecoin on Polygon (MATIC-USD), a layer 2 scaling platform that runs on top of the ethereum (ETH-USD) blockchain to provide competitive fees and transaction speeds. USDT (USDT-USD), the world's largest stablecoin with a market cap of $72.5B, is designed to be pegged to the U.S. dollar. The move will offer Polygon's (MATIC-USD) community with "the most liquid, stable, and trusted stablecoin in the digital token space,” Tether's Chief Technology Officer Paolo Ardoino said Friday. “The Polygon ecosystem has witnessed historical growth this year and we believe Tether will be essential in helping it continue to thrive.” Tather (USDT-USD) is already available to investors on more than 11 blockchains, including Kusama, Ethereum (ETH-USD), Solana (SOL-USD), Algorand (ALGO-USD), EOS (EOS-USD), Omni (OMNI-USD) and Tron (TRX-USD). Earlier this week, (May 26) Tether rolled out a new token pegged to