Tether’s $190 billion USDT stablecoin is coming back to the Bitcoin network
Utexo will provide APIs, SDKs and cloud tools as Tether brings USDT back to Bitcoin for private transfers, direct swaps and Bitcoin-backed loans.
- Tether's USDT is returning to the Bitcoin network this month via infrastructure project Utexo, with Tether CEO Paolo Ardoino recently proclaiming the stablecoin is "coming home."
- Originally launched on Bitcoin in 2014 using the Omni protocol, USDT moved to Ethereum and Tron before Utexo's RGB implementation brings it back, utilizing Bitcoin's UTXOs for ownership records.
- Backed by $7.5 million in seed financing, Utexo will support three primary services: private USDT transfers, direct BTC swaps, and Bitcoin-backed loans, with more than 450 businesses expressing interest.
- Because RGB assets are tied to Bitcoin UTXOs, Utexo cannot freeze addresses like Tether does on Ethereum; instead, the project will maintain a blacklist of unredeemable UTXOs associated with illicit activity.
- Following the Bitcoin launch, Utexo plans to extend to the Lightning network next month, while Tether holds around 100,000 BTC valued at $8.4 billion, underscoring the company's Bitcoin priority.
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Tether’s USDT eyes Bitcoin return as Utexo plans October launch
Utexo has outlined an October launch for USDT on Bitcoin, with three planned services covering private transfers, direct BTC swaps, and Bitcoin-backed loans. Utexo has secured a commercial license to issue USDT on Bitcoin and use its trademark for distribution…
Tether’s $190 billion USDT stablecoin is coming back to the Bitcoin network
A Tether-backed project, Utexo, plans to support private USDT transfers, direct swaps between BTC and USDT, and loans backed by BTC, while keeping most transaction data off Bitcoin’s public ledger.
Tether brings USDT back to Bitcoin with the RGB protocol and the Utexo startup: private payments, less traceability and no closed release date. The USDT entry returns to Bitcoin via RGB: private payments and the Utexo project appears first on Merca2.
Tether’s $190 Billion USDT Stablecoin Is Coming Back to Bitcoin
Tether's USDT is set to return to Bitcoin this month through infrastructure provider Utexo, more than a decade after the stablecoin first launched on the network and later shifted most of its activity to Ethereum and Tron. Utexo co-founder Viktor Ihnatiuk said the company has obtained a commercial license to issue USDT on Bitcoin and use Tether's trademark while providing the infrastructure needed by exchanges, wallets and payment providers. The…
Tether's USDT is returning to Bitcoin this month via RGB and Utexo, 10 years after its Omni launch. Tron and Ethereum hold over 90% of the total supply.
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