Blockchain tech firm Tether has introduced that it’s partnering with EOS dad or mum firm Block.one to launch its stablecoin (USDT) on the EOS blockchain (EOSIO), in line with a press launch shared with Cointelegraph on May 31.
According to the announcement, Tether developed the Tether EOS sensible contract, which has been despatched to the EOS account “tethertether” and peer-reviewed by the Canadian department of EOS. Tether EOS is reportedly well-suited for peer-to-peer microtransactions, resulting from its delegated proof-of-stake design.
Tether’s Chief Executive Officer, Jean-Louis van der Velde, stated that expaned the coin to the EOS blockchain offers higher interoperability.
As reported by Cointelegraph on May 30, main United States-based cryptocurrency alternate and pockets service Coinbase says that it now presents buying and selling and storage help for the EOS token. EOS is notably one of the vital circulated tokens that has been added to the alternate in current occasions, boasting a market capitalization of over $eight billion.
Tether, in the meantime, is in the midst of a case versus the New York Attorney General (NYAG) Letitia James, who accused crypto alternate Bitfinex and Tether of defrauding New York buyers by way of an enormous $850 million loss cover-up. Bitfinex attorneys subsequently moved to dismiss the case on grounds of inapplicable jurisdiction and material.