Tether has formed a new partnership with OKX to integrate USDT0 on X Layer (OKX’s Ethereum L2 network), OKX Wallet, and OKX Exchange. This will allow OKX customers to access greater unified and cross-chain liquidity on a large scale.
Tether and OKX: the integration of USDT0 on X Layer, Wallet, and Exchange
Tether has just expanded the use of USDT0, integrating it on OKX Wallet, Exchange, and on X Layer, the ethereum L2 network of OKX.
In practice, customers can now deposit and withdraw USDT0 directly through OKX Wallet and Exchange, unlocking unified and composable liquidity in major DeFi ecosystems.
Not only that, clients will also be able to access the liquidity of stablecoin through the networks enabled for USDT0 on OKX, such as Arbitrum, Optimism, Unichain, Polygon, Berachain, and more.
In this regard, Lorenzo R., co-founder of USDT0, commented:
“Stablecoins are becoming the backbone of on-chain finance. With USDT0 live on OKX and X Layer, millions of users and developers can tap into unified and cross-chain liquidity on a large scale. This expansion is not just about adding more chains, but also about eliminating the frictions that have held back stablecoins for too long and enabling USDT to be immediately usable wherever developers and customers need it most.” “
Even Star Xu, founder and CEO of OKX, described that the new collaboration is providing its clients with stable omnichain liquidity on the networks they rely on the most.
Moreover, for Xu, the integration of USDT0 into the OKX ecosystem simultaneously connects centralized and decentralized finance in a faster, simpler, and more intuitive way than ever before.
Tether and OKX: What is USDT0?
USDT0 is the new stablecoin based on LayerZero’s Omnichain Fungible Token (OFT) standard. Each transfer of USDT0 is verifiable and backed 1:1 by canonical USDT. In less than a year, USDT0 has surpassed 11.3 billion dollars in bridge volume across over 251,000 cross-chain transfers, supporting nine chain paths, making it the most active OFT in the LayerZero ecosystem.
The integration of USDT0 on OKX allows its 80 million customers worldwide:
- a faster regulation,
- seamless transfers between rollups;
- the possibility to move liquidity directly between the OKX exchange and decentralized markets, without the friction of bridges or wrapped tokens.
At the same time, X Layer is also fully integrated into the OKX product suite and connects users and developers to the broader Ethereum ecosystem. X Layer is indeed the foundation of OKX’s Web3 world.
That said, the integration of USDT0 on X Layer and other OKX chains expands access to one of the most reliable stablecoins and strengthens its role as a full-stack multichain infrastructure provider.
The August Surge of OKB
Speaking of OKX, one cannot fail to mention the explosive August of its exchange crypto OKB.
In fact, it seems that just an hour after the announcement of the update by OKX, its crypto OKB had recorded a price pump of +170%.
In practice, at that time, OKB had risen from $47 to $126, highlighting its appreciation by investors and the crypto community.
The update announced on August 13 includes a one-time burning of over 65 million OKB tokens, until the total supply of OKB is set at 21 million.
On August 22, OKX proceeded with the burning and reduction of the OKB supply, the price of OKB rose exceeding $255, thus recording its new ATH – All Time High.
Now, at the time of writing, the price of OKB is $188.89, in a pump of +306% compared to a month ago.