Tether CTO clarifies $1B USDT mint on Ethereum is for chain swaps

minted a contemporary batch of $1 billion value of its Tether (USDT) stablecoin on the blockchain on June 12. The most recent billion-dollar mint for the stablecoin issuer comes inside two months of its final mint on April 21.

Tether’s chief expertise officer Paolo Ardoino took to Twitter to make clear that the most recent USDT mint is a part of what the agency calls an “stock replenish” on the Ethereum community. The most recent issuance, nevertheless, gained’t impression the general market cap of USDT for the reason that newest minting is an “licensed however not issued transaction.” In line with Ardoino, the most recent minted quantity will likely be used as stock for the subsequent interval of issuance requests and chain swaps.

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