KuCoin announces support for Tezos-based USDT

KuCoin has added support for Tezos-based USDT stablecoins, creating more options for its users.

KuCoin, one of the leading cryptocurrency exchanges in the world, announced that it had opened deposit services for Tezos USDT (Tether). 

According to the press release shared with Coinjournal, the support of Tezos USDT on KuCoin represents another important development for the energy-efficient, self-amending blockchain. 

This latest development comes after the integration of Tether on the Tezos blockchain in July 2022. 

In addition to Tezos, the USDT stablecoin is also available on a host of other blockchains, including Ethereum, Tron, Polkadot, Algorand, Avalanche, Solana, EOS, Bitcoin Cash’s Simple Ledger Protocol (SLP), Liquid Network, Kusama and Omni.

Tezos has experienced a surge in usage over the past few years and has been listed among the largest developer ecosystems.

The Tezos blockchain has become popular for its ability to seamlessly upgrade without forks and recently completed its 11th upgrade to date. 

Tezos said upcoming upgrades of the blockchain are expected to usher in new features like enshrined optimistic rollups, allowing for dedicated higher throughput Layer 2 solutions for EVM, and WASM virtual machines with all computation made verifiable, enshrined on the Tezos blockchain.  

Tezos’s ability to upgrade and scale, all while being an industry leader in energy efficiency, makes it one of the most appealing blockchains in the space.

Over the past few months, Tezos has partnered with some leading brands and institutions, including Manchester United, McLaren Racing, Team Vitality, The Gap, and more.

Tezos added that;

“The announcement is also a testament to the rapidly-growing Tezos NFT and DeFi community, including leading NFT marketplace Objkt.com, generative art platform fx(hash), yield farming protocol Youves and decentralized exchange and EVM bridge Plenty.”

KuCoin has been around since 2017 and is one of the leading cryptocurrency exchanges in the world. The exchange offers over 700 digital assets and currently provides spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to its 20 million users in 207 countries and regions.