USDT Returns to Bitcoin Network This Month
Tether, the issuer of the world's largest stablecoin USDT, is set to resume issuance on the Bitcoin network this month.
Utexo, a digital-asset infrastructure project, has secured a commercial license from Tether to issue Bitcoin-based USDT and plans to support transfers with minimal exposure of transaction information.
This marks a return for USDT to the Bitcoin network, which it was first issued on in 2014 before circulating mainly on Ethereum and Tron. In August 2023, Tether halted new USDT issuance on Bitcoin's Omni Layer.
Utexo plans to enable users to send and receive USDT on the Bitcoin network without exposing too much transaction information externally. It will also support direct swaps between Bitcoin and USDT without using a separate exchange, as well as borrowing funds against Bitcoin as collateral.