Everdawn labs' tether-pegged omnichain stablecoin usdt0 has seen over $50 billion in transfers throughout 15 networks, with greater than a fifth of that quantity occurring within the final month.
abstract
- Launched in January 2025 through Layerzero's Omnichain Different Token Customary, USDT0 extends Tether's publicity to chains on which USDT shouldn’t be native.
- The token has processed over 415,000 transactions throughout networks reminiscent of Ethereum, Arbitrum, Inc., Sei, Bitcoin Layer, Conflux, Plasma, Hyperliquid, and Solana.
- usdt0 is positioned as a “foreign money mesh infrastructure,” supporting funds, remittances, and institutional settlements in everdawn labs’ broader omnichain technique.
Everdawn Labs' Omnichain stablecoin USDT0 has seen over $50 billion in cumulative transfers since its launch and vital adoption throughout 15 blockchain networks, the corporate reported.
Stablecoins pegged to Tether accounted for greater than a fifth of whole transfers final month alone, in keeping with venture knowledge.
Omnichain’s USDT0 will increase holdings of short-term securities
Launched in January 2025 utilizing LayerZero's Omnichain Fungible Token customary, USDT0 permits Tether's dollar-pegged tokens to be expressed on blockchain networks that aren’t natively issued. In accordance with Everdawn Labs, the tokens shall be minted on every vacation spot chain and keep 1:1 backing with Tether.
You may additionally like: South Korea hyperlinks $30 million Upbit hack to North Korea's Lazarus Group
The token has processed greater than 415,000 transactions throughout networks together with Ethereum, Arbitrum, Inc., Sei's Layer 2 networks, Bitcoin-based layers Corn and Rootstock, and payments-focused networks Conflux and Plasma, the corporate mentioned. Different networks reminiscent of HyperLiquid and Solana additionally help this token.
In accordance with Everdawn Labs, stablecoins present the infrastructure for funds, remittances, and institutional settlements throughout main blockchain ecosystems. The corporate describes the expertise as a “financial mesh infrastructure” designed to broaden the usability of digital property past the restrictions of a single chain.
USDT0 is a part of Everdawn Labs' broader omnichain technique, which additionally contains an omnichain model of Tether Gold. The venture started as a startup inside the Tether ecosystem and was first printed on the INK Layer 2 community incubated by Kraken.
The announcement follows the introduction of different omnichain stablecoins by firms reminiscent of Paxos and LayerZero, and displays elevated competitors in cross-chain digital asset infrastructure.
learn extra: Ethereum Layer 2 venture MegaETH to refund $400 million after USDM launch failure
