Tether has integrated with Aptos blockchain, allowing users to transact with USDT at a lower cost compared to more expensive networks like Ethereum.
Aptos, co-founded by former Meta engineers Mo Shaikh and Avery Ching, aims to offer a scalable, efficient, and user-friendly infrastructure for decentralized applications and smart contracts.
USDT’s supply has primarily grown in Tron and Ethereum, with current supplies of $60.82 billion and $52.99 billion, respectively. Other networks, such as Arbitrum, hold significantly less USDT.
In June, Tether stopped digging for new USDT in EOS and Algorand blockchains, ending support for Bitcoin, Kusama, and Bitcoin Cash in 2023.
Despite these changes, Tether reported a record net profit of $5.2 billion in the first half of 2024, despite a net operating profit of $1.3 billion in the second quarter.
Last week, Tether Operations Limited made a $3 million investment in Kem, an app for transferring money and managing finances, to bring the stablecoin Tether USD (USDT) onto the platform.
