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Tether Issues USDT on Kava Blockchain; KAVA Token Climbs 5%
Tether is looking to improve the stablecoin's liquidity across multiple blockchains.
Updated Jun 21, 2023, 10:35 a.m. Published Jun 21, 2023, 10:35 a.m.
Tether has issued its stablecoin on layer 1 blockchain Kava as it looks to enhance liquidity across multiple blockchains, according to a press release.
Kava's native token (KAVA) surged as much as 4.8% to $0.937 before receding to $0.912. It remains more than 12% higher over the past 24 hours amid a wider crypto market recovery, CoinMarketCap data show.
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The Kava blockchain's mainnet was upgraded last month with improvements being made to transaction speeds and the functionality of cross-chain bridges.
USDT is currently supported on Ethereum, Tron, Binance Smart Chain, Solana and Bitcoin via Omni.
The stablecoin's market cap hit an all-time high of $83.5 billion last week as it extracts market share from its main competitor, USD Coin (USDC), which has a market cap of $28 billion.
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French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
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