Tether Creates Over 146 Mln New EUR, USD Tokens Based On Ethereum Blockchain
February 16 2018 - 12:35PM
InvestorsHub NewsWire
February 16, 2018 -- ADVFN Crypto NewsWire -- Tether has
launched a fresh round of token creation, this month adding 86
mln euro-pegged EURTand 60.1mln dollar-pegged USDT to its
issuance as Finance Magnates reports Feb. 15.
Both tokens are issued on Ethereum, with two wallets currently
showing the ongoing activity as Tether continues to face mixed
press following volatility.
Finance Magnates quoted an earlier announcement last September
from Bitfinex sister exchange Ethfinex, the new tokens form part of
a new collaboration bringing Tether to Ethereum.
“Following the widespread success of their Bitcoin-based
USDTether, issued via the Omni Layer Protocol, Tether have now
collaborated with Ethfinex on the development of the first
Ethereum-based Tether, compatible with the ERC20
standard,” the announcement read.
“The ERC20 Tether allows for tokenised USD to be exchanged on
the Ethereum network, enabling interoperability with Ethereum-based
protocols and DApps whilst allowing users to transact with fiat
currencies across the Ethereum Network.”
Deposits and withdrawals of the tokens began Jan. 22, but little
more in terms of detail has surfaced regarding the scale of
issuance now or for the future.
Tether and Bitfinex unsettled markets several weeks ago when
news of an existing subpoena request sent to both companies in
December resurfaced in mainstream media.
Author: William Suberg
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