Tether, the issuer of the world’s largest stablecoin (USDT, $184 billion market cap), renewed in January 2025 its plan to make USDT usable via Bitcoin and the Lightning Network. The company backed by Tether, Utexo, raised $7.5 million in March to develop this infrastructure based on the RGB protocol. Utexo co-founder Viktor Ihnatiuk claims to have met Morgan Stanley representatives in Washington, but this participation remains unconfirmed by the bank. USDT, initially issued on Bitcoin via the Omni Layer protocol before migrating to Ethereum and Tron for lower fees, could thus return to its original network.
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