A one dollar bill

In a press release shared on May 31 (via Cointelegraph) Tether announced the release of their stablecoin on the EOS platform. The support was made possible thanks to a partnership with Block.one, the parent company of EOS, and is to be released on EOSIO soon.

The announcement included information on the development of the Tether EOS smart contract, which was then committed to the “tethertether” EOS account and then peer-reviewed by EOS’ Canadian branch. As reported by members of the community, Tether EOS is very well-suited for peer-to-peer microtransactions, because of its high-speed, high-throughput Delegated Proof-of-Stake model.

Jean-Louis van der Velde, Tether’s Chief Executive Officer, added that the new partnership:

“is a further step towards blockchain interoperability and being on the forefront of this development is a fantastic feeling which further highlights our dedication to the maturation of the digital asset space.”

In addition, a new EOS-centric iFinex exchange named eosfinex will be launched. It will be built on top of the EOS blockchain and will most likely make heavy use of the new Tether token.

Further ecosystem support has been announced by exchange and wallet service Coinbase who confirmed that they will offer storage and trading support for the EOS-based token.

In the meantime, Tether is still in the middle of a case started by New York Attorney General Letitia James, who accused Tether and Bitfinex of cheating investors with an $850 million loss cover-up. 

LEAVE A REPLY

Please enter your comment!
Please enter your name here