Bitfinex Enables Deposits and Withdrawals for Tether tokens (USDt) on NEAR Protocol - Bitfinex blog
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Bitfinex Enables Deposits and Withdrawals for Tether tokens (USDt) on NEAR Protocol


ROAD TOWN, British Virgin Islands, September 14 2022 16:00 PM BST
– Bitfinex, a state-of-the-art digital token trading platform, has enabled its users to deposit and withdraw Tether tokens pegged to the U.S. dollar (USDt) on NEAR Protocol (NEAR), a carbon-neutral, high-speed and low transaction fee, layer-1 blockchain. 

NEAR offers services such as NEAR Names that are unencumbered by the potential high gas fees on networks such as Ethereum while the protocol has a minimum of 2500-3000 Transactions Per Second (TPS). The NEAR Protocol has also been awarded the Climate Neutral Product Label from South Pole.

The launch of USDt on NEAR is the thirteenth blockchain on which USDt is available, adding to Algorand, Avalanche, Bitcoin Cash’s Simple Ledger Protocol (SLP), Ethereum, EOS, Liquid Network, Omni, Kusama, Polkadot, Tron, Tezos and Solana. 

“We are pleased to be adding another blockchain for our customers to be able to deploy their Tether tokens,” said Paolo Ardoino, CTO at Bitfinex. “The NEAR blockchain is a focus of growing interest in the digital token economy and I’m sure our users will appreciate having exposure to its flourishing ecosystem.”

NEAR’s sharding mechanism, Nightshade, is built to heighten scalability and security, according to the protocol. Furthermore, NEAR seeks to focus on usability, for both developers and users. Developers on the NEAR protocol are building decentralized applications (dapps) in a variety of sectors, including finance, gaming and in the Non Fungible Token (NFT) space.

USDt is supported by numerous e-commerce platforms and payment gateways, and already provides faster payment as compared to many credit and debit cards, and traditional payment systems.

*All users of www.bitfinex.com are subject to Bitfinex’s terms of service [Link to the TOS] (“TOS”). Please note that U.S. persons (as defined in the TOS), among other prohibited persons (as defined in the TOS), are strictly prohibited from directly or indirectly holding, owning or operating an Account (as defined in the TOS) on www.bitfinex.com.   

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About Bitfinex

Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital tokens. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world. Visit www.bitfinex.com to learn more.

Media Contact for Bitfinex

Joe Morgan

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[email protected]