The Crosschain US-Dollar Stablecoin USDT0 has been deployed to the superchain of optimism, increasing access to the most widely used stable world-owned world across Ethereum’s Layer-2 ecosystem.
On March 27, optimism announced that the dollar pegged USDT0 is now living at OP Mainnet. The first deployment of Crosschain Stablecoin was in the ink, Kraken’s Defi-Focused-2.
USDT0 is essentially a bridged version of Tether’s USDT (USDT), designed to expand stablecoin adoption to various blockchains.
Tether launched USDT0 in January in collaboration with the Interoperability Protocol Layerzero. One month later, Selected tether arbitrator as the main infrastructure provider for USDT0.
Superchain is a network of layer-2 chains designed to measure Ethereum through the op stack of optimism. The collective currently provides 52% of the transactions in the Ethereum layer-2, according to the data monitored by the superchain.
Since September, L2’s superchain dominance has grown from 36.6% of all transactions to 51.9%. Source: Superchain Health Dashboard
In February, Optimism Chief Growth Officer Ryan Wyatt told Cointelegraph that was likely to account for the superchain 80% of transactions to Ethereum L2 This year. At this time, the superchain gained more than $ 4 billion in total cost, which has since grown to $ 4.2 billion.
Related: Celo, Chainlink, Hyperlane launches Crosschain UDT in OP Superchain
Stablecoin adoption is eating
Superchain said the USDT0 removal is expected to attract “more top-tier assets, applications and partners” to the collective, featuring the role of stablecoins in the Defi adoption.
The total amount of all stablecoins in circulation reached nearly $ 228 billion, which increased by 3.3% in the last 30 days. According to RWA.XYZ, there are more than 155 million stablecoin holders worldwide.
Ethereum provides 58% of the total stablecoin supply.
In terms of market cap, Ethereum is on the widest network for stablecoins. Tether’s USDT is the most widely used stable owner. Source: Rwa.xyz
Tether has long had a first-mover advantage in the Stablecoin market. The company has emerged as one of the largest holders of the world of US Treasury assets, which has contributed to the fuel of record-breaking earnings in recent years.
To US president Donald Trump in the White House, dollar-pegged Stablecoins became a major policy driver in the United States.
Trump council leader in Digital Assets, Bo Hines, recently told a New York conference that comprehensive Stablecoin regulations may come to the President’s desk two months.
Related: US Treasury Holdings exceeds Canada, Taiwan, ranking on the world worldwide
