KAVA price surges ahead of USDT launch on Kava blockchain.

  • As of now, KAVA is trading at $0.9214, which is a 13.27% increase over the last 24 hours.
  • The first USDT based on Kava will be available on July 3, 2023.
  • Since Kava is built on Cosmos, this move will also provide USDT liquidity to Cosmos users.

According to an official announcement made by Tether Limited, the largest stablecoin USDT will soon be available on the Kava blockchain. This will make Kava the next blockchain supported by Tether Limited.

Tether USDt comes to the #Cosmos ecosystem! We have chosen to deploy USDt on @KAVA_CHAIN, the gateway to the Cosmos ecosystem. USDt on KAVA is launching on July 3rd.

Read more https://t.co/myCkHhHHud pic.twitter.com/YQFgO5381m

— Tether (@Tether_to) June 21, 2023

The new release will allow the Cosmos (ATOM) community, a cutting-edge cross-chain ecosystem, to access USDT liquidity. Kava, Cosmos’ flagship network, recently underwent a significant upgrade.

Kava and Tether collaboration

The Kava (KAVA) team has combined the most impressive features of the Ethereum Virtual Machine (EVM) with Cosmos SDK’s speed, low transaction fees, and interoperability. Kava released the Kava 13 upgrade to increase throughput and speed.

Paolo Ardoino, CTO at Tether, is excited about the new release and believes that it will be crucial to USDT’s development and adoption of different liquidity solutions. Paolo said:

“We’re thrilled to be launching USD₮ on Kava, offering its strong community access to the world’s first, most stable, most trusted, and most widely used stablecoin. The Kava network is a unique and widely followed blockchain with a robust track record of four years with zero security issues, which is essential to protecting USD₮ users. Together, we aim to reshape the future of decentralized finance, fostering a robust and inclusive ecosystem that benefits users worldwide.”

In addition to Kava, USDT has been launched on several other blockchains, including Ethereum, Solana, Algorand, Tron, Eos, Near Protocol, and Avalanche blockchains, as well as on Omni solutions and Liquid Network.

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