The CEO of Tether, Paolo Ardoino, announced that the company is preparing to launch two new products this month, which he referred to as Tethember. However, he mentioned that the launch may be delayed by about 7 days due to the U.S. presidential elections on November 5.
Ardoino also dismissed rumors about the launch of a proprietary Tether Chain blockchain, stating that existing layer two solutions are sufficient and that it is important for the company to maintain neutrality. Tether is currently focused on integrating the USDT stablecoin into other networks and partnering with other companies and communities.
“Tether does not plan to create an official blockchain at this time,” he wrote on X.
On November 1, Tether announced the launch of a stablecoin pegged to the dirham on the TON blockchain. This stablecoin will be created by Tether in collaboration with Phoenix Group and Green Acorn, which was announced at the Gateway 2024 event in Dubai.
According to data from DefiLlama, out of 322 blockchains, the top five control over 75% of the total asset value. Ethereum remains the market leader with approximately $47.64 billion in total asset value, accounting for 55.24%.
On its part, Tether is the leader among stablecoins with a market capitalization of $120.511 billion.
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