Kraken Adds Stellar Support for USDT0 Deposits and Withdrawals

Kraken has added support for USDT0 deposits and withdrawals on the Stellar network. This means users can now move their USDT0 tokens between exchanges without converting them first.

The Stellar network is known for its fast transaction times, typically settling in around five seconds, and low fees that cost a fraction of a cent. It's well-suited for large-scale transactions with stablecoins like USDT0.

USDT0 is an omnichain version of Tether's USDT, built on LayerZero's Omnichain Fungible Token standard. Each token stays backed 1:1 by USDT on the Ethereum network and can be redeemed for USDT at a 1:1 ratio.