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Tether's USDT Gets Its Own Blockchain: StableChain Live
9 Dec
Summary
- StableChain, a new blockchain network, launched today.
- The network exclusively processes transactions in Tether's USDT.
- Stable aims to build infrastructure purpose-built for stablecoins.
A new layer-one blockchain network, StableChain, has officially launched its mainnet, built entirely around Tether's USDT stablecoin. This innovative network exclusively processes transactions using USDT, the dominant stablecoin in the global market. The accompanying native STABLE token is integral for governance, staking, and incentivizing validators.
The development is backed by prominent entities including Bitfinex and PayPal, with a strategic focus on the stablecoin sector, a high-demand area within decentralized finance. This move aligns with a broader industry trend where asset issuers and fintech firms are increasingly developing centralized infrastructure, often prioritizing it over more decentralized base-layer protocols.
StableChain's emergence mirrors similar initiatives like Circle's Arc blockchain for USDC and Sony's plans for a dollar-backed stablecoin. These developments highlight a significant shift in the crypto industry towards efficiency and centralized control, leading to a notable convergence with traditional fintech services and raising questions about the future value proposition of existing decentralized networks.
