Bitfinex Enables Deposits and Withdrawals for Tether tokens (USDt) on Tezos - Bitfinex blog
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21 Jul Bitfinex Enables Deposits and Withdrawals for Tether tokens (USDt) on Tezos

Posted at 11:13h in Media Releases by

ROAD TOWN, British Virgin Islands, July 21 2022 – Bitfinex, a state-of-the-art digital token trading platform, has enabled its users to deposit and withdraw Tether tokens (USDt) on Tezos, a decentralized open-source blockchain that can execute peer-to-peer transactions and serve as a platform for deploying smart contracts.

The launch of USDt on Tezos is the twelfth 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 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. “Tezos is a popular smart contract platform and plays host to a vibrant ecosystem spanning everything from digital art and NFTs, gaming to decentralized finance (DeFi).”

Tezos has seen a significant increase in usage year-over-year and was listed among the largest developer ecosystems, according to the annual Electric Capital Developer Report. Tezos, well known for its ability to seamlessly and forklessly upgrade, is expected to incorporate in its future upgrades features such as enshrined optimistic rollups, which allow for dedicated higher throughput Layer 2 solutions for EVM and WASM virtual machines with all computation made verifiable, enshrined on the Tezos blockchain. 

Tezos is a rapidly-growing and vibrant ecosystem which includes a top five NFT marketplace Objkt.com, leading generative art platform fx(hash), DeFi applications such as yield farming protocol Youves and decentralized exchange and EVM bridge Plenty, along with a variety of brands, including Manchester United. 

Tezos lays claim to being among the fastest growing blockchain ecosystems, and is a vibrant community of builders and creatives from around the world including over 400 validators from nearly 40 countries. 

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

Bitfinex is leveraging its position as one-stop shop for crypto trading offering a variety of services, including margin trading with up to 10x leverage.

*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.

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