Polygon, a multi-chain scaling platform, upgrades to the USDT0 standard, introducing a unified liquidity network for the full-chain versions of Tether's USDT and XAUT.
The cross-chain liquidity stablecoins USDT0 and XAUt0, supported by LayerZero's Omnichain Fungible Tokens (OFT), will be launched on the Polygon blockchain, Everdawn Labs, the operator of USDT0, announced to Cointelegraph on Wednesday.
This integration marks a significant milestone for XAUt0 operating on Polygon, becoming the second network to go live after TON.
USDT0 rapidly expanded after its launch in January, with its market cap climbing to nearly $1.6 billion within two months. The growth of XAUt0 has been relatively slow, with a market cap of only $2.5 million.
Why choose Polygon?
USDT0 chose to expand its ecosystem on Polygon because the network has grown into one of the 'strongest ecosystems' for stablecoin payments, decentralized finance (DeFi), and enterprise adoption.
After launching USDT0 and XAUt0 on Polygon, we opened a seamless stablecoin channel and introduced native gold-backed liquidity on one of the most widely used blockchains, which is an ideal combination for DeFi, payments, and institutional-level RWA adoption.
As the stablecoin market continues to gain momentum, Tether's USDT — the largest stablecoin by market cap — surpassed $167 billion in mid-August, while its gold-backed token XAUT first broke the $1 billion mark on August 8.
