We’re pleased to announce that Tether tokens (USDt) will be the first stablecoin to launch on Polkadot, a scalable multi-chain network. Before deploying on Polkadot, the first protocol that provides an environment for cross-chain composability of multiple applications and protocols, USDt will go live on the network’s cousin, the canary network Kusama.

The launch of USDt on Polkadot is pending the formation of parachains: independent chains that can have their own tokens and be optimized for specific use cases. The aim is to ensure that when USDt is available, it will become the first ever stablecoin on the Polkadot network. As parachains will first launch on Kusama, USDt will deploy the canary network before becoming available on Polkadot.

Polkadot and Kusama are open-source networks that were bootstrapped by the Web3 Foundation, which funds research and development teams building the stack of technologies that form the basis of the decentralized web. For more information, please visit https://web3.foundation