OKX Partners with Tether to Introduce USDT0 on X Layer, Wallet, and Exchange
OKX, a prominent cryptocurrency platform, has announced a collaborative effort with Tether, the issuer of the widely used stablecoin USDT, to bring USDT0 to X Layer, the Ethereum Layer 2 Network from OKX, as well as its wallet and exchange. This integration aims to provide users with seamless and efficient access to uniform, composable liquidity across various DeFi ecosystems.
As part of this partnership, OKX users can now withdraw USDT0 directly via the OKX wallet and exchange, unlocking access to deeper liquidity across networks that support USDT0, including Arbitrum, Optimism, Unicain, Polygon, and Berachain. This development is expected to enhance the overall user experience, enabling faster settlements and transmissions between rollups and direct liquidity movement between the centralized exchange of OKX and decentralized markets.
Eliminating Friction with Omnichain Transfers
The introduction of USDT0 on X Layer is driven by a standard that ensures each transmission is verifiable and 1:1 backed by canonical USDT, offering transparency while removing the complexity associated with packaged tokens and bridge solutions. This structure enables faster settlements, transmissions between rollups, and direct liquidity movement between the centralized exchange of OKX and decentralized markets, ultimately creating a more reliable and efficient infrastructure for on-chain financing.
By integrating USDT0 into its Layer-2 network, wallet, and exchange, OKX positions itself as a full-stack, multi-chain infrastructure provider, strengthening its path to the mainstream adoption of stablecoins in global finance. This development is expected to have a significant impact on the DeFi landscape, providing users with a stable and efficient means of transferring value across various chains.
X Layer as the New “Money Chain”
X Layer is the dedicated Ethereum Layer 2 network from OKX, designed to provide users and developers with a seamless and optimized experience. Star Xu, founder and CEO of OKX, describes X Layer as “the new chain of money and a basis for seamless, stable, and interoperable exchange.” By working with Tether to bring USDT0 to X Layer and other chains via the OKX platform, the company enables its customers to access stable omnichain liquidity in the networks they depend on most, while bridging centralized and decentralized finance more quickly, easily, and intuitively than ever before.
The Rapid Growth of USDT0 and Market Impact
Since its introduction, USDT0 has experienced rapid growth, exceeding a bridge volume of $11.3 billion over more than 251,000 cross-chain transfers, supporting nine chain routes. This makes it the most active within the LayerZero ecosystem, demonstrating its growing role in DeFi infrastructure. Lorenzo R., co-founder of USDT0, notes that “stablecoins are becoming the backbone of on-chain finance,” and with USDT0 live on OKX and X Layer, millions of users and builders can access uniform, settling liquidity on the level.
Tether Stablecoin USDT Coming to Bitcoin Blockchain
In a related development, Tether announced plans to launch USDT on RGB, a next-generation protocol for issuing digital assets on Bitcoin. RGB recently reached mainnet with its publication of 0.11.1, aiming to expand Bitcoin’s role beyond a store of value. By enabling RGB to provide a private, scalable, and user-controlled issuance of assets, it creates a path for stablecoins to exist natively on Bitcoin’s blockchain.
For more information on this development, please visit https://cryptonews.com/news/okx-teams-up-with-tether-to-bring-usdt0-to-x-layer-wallet-and-exchange/
