USDT0, a cross-chain stablecoin, is the omnichain-ready bridged version of Tether’s USDt. With this integration, Plasma becomes the latest blockchain to be supported by Bitfinex, to enable customers to deposit and withdraw USDT0 on this network, following similar integrations on Optimism, Ink, and Arbitrum.
Plasma uses the PlasmaBFT architecture and is designed for fast, composable stablecoin transactions. In announcing its initial integration with USDT0 earlier this year, Plasma is described as being “purpose-built for stablecoin payments.”
Developed by Everdawn and LayerZero, USDT0 is managed by the USDT0 Consortium, which leverages LayerZero’s OFT standard to expand stablecoin utility across blockchains. Bitfinex customers can convert their USDt balances into USDT0 directly on the platform and withdraw them to supported chains such as Plasma.
“Our support of USDT0 on Plasma continues our commitment to meet customer demand for scalable, cost-efficient stablecoin transactions,” said Anoush Bhasin, Head of Listings at Bitfinex. “Plasma’s focus on stablecoins makes it an ideal network for USDT0 to drive adoption in the global digital asset economy.”
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About Bitfinex
Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital tokens. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world. Visit www.bitfinex.com to learn more.
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