Tether launched a stablecoin wallet on Tuesday, allowing users to transfer digital dollars, tokenised gold, and bitcoin across multiple blockchains.
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The stablecoin issuer launched a self-custodial crypto wallet allowing users to hold and send USDT and USAT stablecoins, tokenised gold XAUT, and bitcoin. Users will be able to pay transaction fees in the asset they transfer in, and wallet addresses will be replaced with readable names akin to email addresses.
Tether reportedly has over 570 million users on its platform, and this new wallet will facilitate transactions for customers with less friction points.
Tether CEO Paolo Ardoino commented: “Tether.wallet is ‘the People’s Wallet’ because it truly reflects the natural evolution of Tether’s role, from building the foundation of the digital asset economy to making it directly usable by anyone, ready for a future in which tens of billions of humans, machines, and trillions of AI agents will transact seamlessly at the speed of light.”
On Thursday, Drift relaunched its stablecoin with Tether, having received $147.5 million in funding from Tether and partners after losing $270 million in clients assets in a hacking incident last month.