Tether's USDT to Return to Bitcoin Network via Utexo

Tether's USDT is set to make a comeback to the Bitcoin network later this month through Utexo, a new platform that promises to bring private transfers and direct swaps to the table.

According to Utexo, users will be able to send USDT privately on the Bitcoin network, as well as engage in direct swaps between Bitcoin (BTC) and USDT. The platform also plans to offer Bitcoin-collateralized lending services in the future.

The move is seen as a major development for the cryptocurrency ecosystem, which has been waiting for Tether's stablecoin to return to the Bitcoin network. Utexo's plans to enable USDT on the Bitcoin network were first reported by Cointelegraph on October 2.