Over the past four weeks, stablecoin issuing giant Tether has minted an impressive total of 4 billion USDT tokens, further consolidating its leading position in the market.

The Tron blockchain hosted the most recent issuance of Tether, with 1 billion USDT created on November 10, according to data provided by Whale Alert. This latest action follows the issuance of 1 billion USDT on Ethereum on November 9, as well as the 2 billion issued in two batches on Tron on November 3 and October 19.

Paolo Ardoino, CTO and new CEO of Tether, commented on the Whale Alert data on X, highlighting that the 1 billion USDT transaction on the Tron network was a “USDT inventory replenishment.” He clarified that this amount will be used as inventory for issuance requests in the next period and on-chain exchanges.

These new USDT issued represent a substantial portion of the total 22.75 billion USDT that Tether plans to mint in 2023, according to data from Whale Alert. Of the total, 57% (13 billion) have been issued on the Tron blockchain, while the remaining 9.75 billion have been launched on the Ethereum blockchain.

Throughout the year, Tether has been actively involved in minting new stablecoins. In March 2023, the company issued 9 billion USDT, adding to the 3 billion minted the previous month. Significant emissions between June 12 and July 12 also stand out, where 3.75 billion USDT were created.

In addition to minting new coins, Tether has carried out USDT burns. In August, 1.2 billion USDT was burned on the Tron blockchain, following previous burns of 3.1 billion in June and 2 billion in February, both on Tron and Ethereum respectively.

The crypto community has reacted quickly to these latest USDT issuances, recalling past events where aggressive Tether issuances coincided with significant banking events. Although some speculate about possible connections, Tether has categorically denied any relationship with banks such as Silicon Valley Bank, Silvergate, and Signature Bank.

In addition to the active issuance of new coins, Tether is working on integrating important projects into the ecosystem, according to CEO Ardoino. The company is expected to announce five new projects in 2024, some of which could have a significant impact on popular Web2 centralized services.

K. Tovar

Source: Cointelegraph

(Main reference image source: DrawKit Illustrations, Unsplash)

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La entrada Tether managed to issue up to 4 billion USDT apareció primero en Bitfinance.

Tether launched its fourth stablecoin called MXNT, linked to Mexico’s legal tender, the peso, with the purpose of providing users with a “reserve of value” for new markets in Mexico.

Through a press release, the firm explained that among the reasons that motivated the creation of the new stablecoin MXNT was the use of digital assets in the Central American country, “the multimillion-dollar flow of remittances to Mexico and the difficulties involved with transfers of money“.

According to Tether CTO Paolo Ardoino, “The introduction of a peso-pegged stablecoin will provide a store of value for those in emerging markets and, in particular, Mexico. MXNT can minimize volatility for those looking to convert their assets and investments from fiat currency to digital currency.”

Users of the new currency will be able to acquire it through the Ethereum, Polygon and Tron blockchains and will benefit from the experience and transparency offered by blockchain technology.

Ardoino expressed that the increase in the use of cryptocurrencies in Latin America prompted the decision to expand, and indicated that this fact will set a precedent for the launch of other stablecoins backed by Mexican pesos.

The new token will have the ticker MXNT. The firm already has three stablecoins in the crypto market with fiat parity, the USDT, backed to the US dollar, EURT to the euro, and CNHT to Chinese yuan. Also, last year it launched XAUt, backed by gold.

M. Rodríguez

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Source: ambito.com

La entrada Tether launched a new stablecoin pegged to the Mexican peso apareció primero en Bitfinance.

The exchange associated with the stablecoin Tether, Bitfinex, has announced the launch of its new cryptocurrency payment processor called Bitfinex Pay, which is designed for companies and businesses that are interested in receiving payments in digital currency.

The information was released through the official networks of the company, where it is specified that the tool will be managed from a web page where the operation of the platform will be offered in greater detail.

So far it is known that Bitfinex Pay will serve as an application or program integrated into the client’s website, in the best widget style. The advantage is that users will be able to process online payments with currencies such as: bitcoin (BTC) via traditional / lightning network , ethereum (ETH) and tether (USDT), which would go to the linked wallet on Bitfinex.

Paolo Ardoino, the CEO of Bitfinex, has communicated in a report published in CityAM that the main objective of the company is to “confront the established giants in the fields of technology and payments, taking advantage of our knowledge on these issues to bring crypto payments to traditional means.”

Ardoino stated that when it comes to payments with cryptocurrencies “there is a generational change in the way of thinking … The next generation of consumers will be in tune with the new possibilities offered by digital payments.”

K. Villarroel

Source: diariobitcoin

La entrada Bitfinex Pay, the new service that allows payments in crypto apareció primero en Bitfinance.