Stablecoin issuer Tether has announced plans to launch US dollar-pegged Tether tokens (USDT) on the Aptos Network.

This move is in line with Tether’s broader strategy to make digital currencies more accessible and useful globally by leveraging the Aptos ecosystem, according to the official press release, which was published with CryptoPotato.

USDT to debut on Aptos

Integrating USDT into the Aptos blockchain is expected to bring extremely low gas fees, costing just a fraction of a cent. Not only will this drastically reduce transaction costs, but it will also be economically viable for various applications, from microtransactions to large-scale enterprise operations.

The ultimate goal of this strategic partnership between Tether and Aptos is to attract users from different economic backgrounds.

Paolo Ardoino, CEO of Tether, commented on the matter:

“The Tether team is excited to integrate and collaborate with the Aptos ecosystem, furthering our commitment to making digital currencies more accessible and functional. Aptos’ innovative technology provides a solid platform for faster, more cost-effective transactions in USDT. This collaboration underscores our ongoing efforts to lead with innovation and support our users with stable, reliable financial instruments.”

Bashar Lazaar, Head of Grants and Ecosystem at the Aptos Foundation, also emphasized the network’s intention to create a strong, global DeFi and payments ecosystem that emphasizes speed, decentralization, and interoperability. He highlighted the use of Move, a programming language on Aptos, as a key factor in realizing this vision.

Therefore, Lazaar believes that the launch of USDT on Aptos represents an important milestone and will accelerate the availability and use of real-world value for institutions, Web3 developers and everyday users worldwide.

Tether Expansion

This week, Tether’s USDT reached a market cap of $115 billion, cementing its position as the third-largest crypto asset and leading stablecoin with nearly 70% market share, according to data compiled by rwa.xyz.

In terms of expansion, since becoming CEO in December 2023, Ardoino has focused on investing in Tether’s growing profits. Part of the funds have been used to strengthen the USDT reserve, while the remaining funds will go into Tether Evo, the company’s venture capital arm.

This division has already made notable investments, such as acquiring a majority stake in Blackrock Neurotech, a company specializing in neural implant technology, and backing Northern Data Group, a data center operator that supports the training of AI models.

Earlier this month, Tether also announced it would double its workforce by mid-2025 to improve compliance and other key areas. The company expects to grow its team to around 200 employees and will also expand its treasury department, which manages USDT’s $118 billion in assets in support.