The world’s largest stablecoin can now be used on the Lightning Network with instant transactions and low fees.
During the Plan ₿ Forum conference in El Salvador, Tether, the issuer of the world’s leading stablecoin, announced the integration of USDT on the Lightning Network protocol. This move is made possible through a partnership with Lightning Labs and the use of the Taproot Assets protocol, which enables the issuance and utilization of stablecoins and other assets on the Lightning network.
Paolo Ardoino, CEO of Tether, stated:
“By enabling USDT on the Lightning Network, we are not only reinforcing Bitcoin’s foundational principles of decentralization and security but also creating practical solutions for remittances, payments and other financial applications that demand both speed and reliability.”
Elizabeth Stark, CEO of Lightning Labs, stated:
“Today marks a new era for stablecoins. Bringing USDt to Bitcoin combines the security and decentralization of Bitcoin with the speed and scalability of Lightning. Millions of people will now be able to use the most open, secure blockchain to send dollars globally. It all comes back to Bitcoin.”
Under Ardoino’s leadership, the company has increased its focus on Bitcoin, including holding the cryptocurrency in its balance sheet and launching mining operations in El Salvador.
This move follows Tether’s 2023 decision to discontinue USDT issuance on certain networks, including Omni—the first platform on which USDT was launched—due to low demand. Today, most USDT tokens circulate on the Ethereum and Tron blockchains.