Tether, the blockchain-based platform behind the largest stable coin by market cap, USDT, is live on Algorand 2.0. Per the report, Algorand is the world’s first pure Proof-of-Stake blockchain platform.

Tether is now the first stable coin to be launched on the Algorand 2.0 platform and the partnership would allow it to leverage the innovative elements released in Algorand 2.0. These include instant confirmation, micro payments and automatic wallet support.

One of the key features of the Algorand 2.0 upgrade that Tether would be leveraging on is the Algorand Standard Asset (ASA) Technology. The ASA technology makes it possible for the tokenization and issuance of any type of asset on the Algorand blockchain.

This partnership would also enable Tether to benefit from block confirmation in less than 4 seconds, meagre transaction fees, and unlocking the opportunity for micro payments on blockchain.

According to Tether CTO, Paolo Ardoino, their partnership with Algorand leverages the speed and security of Algornad’s protocol to give traders fast settlement and reduce counterparty risk in the fiat to digital asset transactions.

The CEO of Algorand Inc., Steve Kokinos, said they are excited that Tether has chosen to join the Algorand ecosystem. According to Kokinos, Tether’s issuance of their assets on Algorand will be a game changer for global DeFi participants. He claimed Algorand is one of the fastest and safest ways to transfer money around the world.

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