USDT Returns Home: Tether Brings Stablecoin Back to Bitcoin via RGB
Tether's Paolo Ardoino says USDT is 'coming home' to Bitcoin via RGB, a protocol that issues assets on Bitcoin while keeping transaction data off-chain. This move marks a return to the chain where USDT first launched in 2014 after most of its supply moved to Ethereum and Tron.
The new version of USDT runs on RGB, which is being built by Utexo. The company's CEO, Viktor Ihnatiuk, met with Morgan Stanley to discuss adoption of USDT on Bitcoin. However, it's unclear if a formal partnership has been announced.
Tether led Utexo's $7.5 million seed round and added its RGB Lightning module to Tether's Wallet Development Kit in August. This integration gives any wallet built on the kit the option of USDT support out of the box once the integration ships.