Share this article
Tether Issues USDT on Kava Blockchain; KAVA Token Climbs 5%
Tether is looking to improve the stablecoin's liquidity across multiple blockchains.
Jun 21, 2023, 10:35 a.m.
Make us preferred on Google
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.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
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.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Dubai Insurance offers a crypto wallet so you can pay premiums and collect claims in bitcoin
In partnership with Standard Chartered’s Zodia Custody, Dubai Insurance is the first insurer globally to issue a crypto wallet for its policy holders to transact with digital assets.
What to know:
- Dubai Insurance has become the first traditional insurer globally to launch a cryptocurrency wallet for customers to pay premiums, receive claims and transact digital assets.
- The wallet, developed with Standard Chartered–backed Zodia Custody, aligns with the United Arab Emirates’ push to integrate digital assets into mainstream finance under clearer regulatory rules.
- Executives say the move introduces regulated, on-chain infrastructure to the regional insurance sector, aiming to improve transparency, efficiency and customer experience while maintaining strict governance and security standards.
