USA₮ Lands on Celo, Bringing Tether's Compliant Stablecoin to Payments Network

Tether's US dollar-backed stablecoin USA₮ has gone live on Celo, joining Ethereum as the second chain to support this asset. Celo is a leading network for payments and has emerged as the number one distribution platform for USD₮ with a 28% market share of transfers across blockchains.

The launch allows users to pay transaction fees in USA₮, a feature exclusive to Celo. This functionality was made possible by fee abstraction, an original Celo design formalized as CIP-64.

Celo co-founder Marek Olszewski said: 'USA₮ brings a US dollar stablecoin designed to comply with federal regulations to the rails millions of people already use every day for remittances, savings, and commerce.'