Tether Selects Arbitrum for New Cross-Chain USDT0 Stablecoin, Aiming for Enhanced Scalability and Adoption

On February 11, Tether announced its selection of Arbitrum One as the primary infrastructure provider for its new cross-chain US dollar stablecoin, USDT0. According to Steven Goldfeder, CEO of Arbitrum developer Offchain Labs, this integration will provide users and developers with deep, liquid markets across various blockchains, promoting broader USDT adoption and scalability. Tether launched USDT0 on January 16 in collaboration with LayerZero, initially deploying it on Ink. As of today, USDT remains the leading stablecoin with a market capitalization exceeding $141 billion. In 2024, Tether reported a record profit of $13 billion, driven by its substantial US Treasury portfolio, valued at approximately $113 billion by the end of the year.