According to official news, USDt issued by Tether has been successfully launched on Cosmos through Kava, which is an important milestone in the expansion of the Cosmos DeFi ecosystem.
Through Kava’s integration in Cosmos, USDt brings liquidity convenience to Cosmos’ IBC and EVM ecosystems, and also solves the problems of limited growth, decentralized liquidity, and high volatility in the Cosmos ecosystem, providing users and developers with A safe and widely accepted standard stablecoin.
Kava co-founder Scott Stuart said: Our support for Tether USDt integration brings much-needed stablecoin liquidity to the Cosmos and EVM ecosystem. The choice of Tether makes Kava an important support for Cosmos ecosystem projects.
Unlike external third-party bridging solutions, the launch of Kava 14 enables USDt issued natively on Kava to flow between the IBC and EVM blockchains through an “internal bridge”, allowing Kava to quickly and highly securely transfer between chains Assets, and provide users with an effective mechanism for stablecoin liquidity provision and transfer.
Therefore, this integration will drive a significant expansion of the DeFi economy on Cosmos, providing a premium solution to the liquidity problem that has been present since Terra’s UST collapse in Q1 2022. Deploying a stablecoin with a strong presence and a 65% market share will provide users and developers with greater security and reliability.
Tether’s CTO Paolo Ardoino said: The Kava network is a unique and well-respected blockchain with a four-year record of stable operation without security issues, which is critical to protecting USDt users. Together, we are committed to reshaping the future of decentralized finance, promoting a strong and inclusive ecosystem that benefits users worldwide.
It is reported that Kava (kava.io) is a secure, high-speed Layer-1 blockchain that combines the developer capabilities of Ethereum with the speed and interoperability of Cosmos.
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