Tether, the company behind the issuance of the stablecoin USDT, has announced the integration of USDT into the Bitcoin ecosystem, supporting the foundational layer of Bitcoin and the Lightning Network via the Taproot Assets protocol developed by Lightning Labs.
Upon completion of the full connection, Tether states that USDT will be able to operate on a network with high speed, low cost, enhanced security, and scalability from the Bitcoin network.
Currently, USDT is the largest stablecoin in the world with a market cap of approximately $1.4 trillion, backed by assets worth around $2.1 trillion.
Source: Tether and The Block
TLDR: Tether integrates USDT into the Bitcoin ecosystem through the Lightning Network, enhancing speed, cost efficiency, security, and scalability. USDT is the largest stablecoin globally, with a market cap of $1.4 trillion.
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