There has been a remarkable new development in the cryptocurrency world. A new blockchain project called “Stable” supported by USDT0, an initiative associated with the Bitfinex exchange and Tether, has been announced. Tether CEO Paolo Ardoino is among the advisors of the project.
This new chain, called “Stable,” will use USDT, the world’s largest stablecoin, for transaction fees (gas fees). The target audience for the chain, which is still in its development phase, will not be individual users but rather financial institutions. The development team prefers to remain anonymous, describing the team only as “protocol engineers, fintech executives, and crypto entrepreneurs.”
According to information shared on the project’s social media platform X, the chain’s most important promise will be “enterprise lanes” for corporate users, that is, special paths that allow for faster transactions. “USDT alone has a daily transaction volume of over $100 billion. However, the current infrastructure is volatile, costly, and fragmented,” the developers said.
With a market value of over $154 billion, Tether is the leader in the stablecoin market. Circle’s USDC follows with a value of $61 billion. Circle’s shares, which went public this week, have gained rapidly after starting trading on the New York Stock Exchange.
*This is not investment advice.
