By Bitfinex, a major cryptocurrency exchange is reportedly seeking to launch the USDT stablecoin operated by Tether (Bitfinex’s sister firm) on the Lightning Network (LN) as per a report released by crypto news publication The Block on May 31st.
As per the report, Paolo Ardoino, Bitfinex’s chief technology officer told The Block that the firm has plans to launch USDT upon the Lightning Network later this year. To achieve this new objective, the firm has reportedly joined forces with RGB, an open source development project.
As per information on GitHub, the RGB project is “a completely free, open-source, non-profit and community-oriented effort, promoted by the BHB Network and aimed at the development of standards and best practices to issue, transmit and store ‘Bitcoin-based non-bitcoin assets.’”
The block also cited comments from Ardoino’s thoughts on the development who stated that the project is “one of the coolest things” it’s been a part of so far.
Furthermore, the company’s CTO also noted that Bitfinex wants to further contribute to the development of the lightning network. A post released by Tether back in April 2017 clearly indicates that the firm already had these plans for the stablecoin back two years ago.
Tether also recently announced that it is teaming up EOS parent company, Block.one to release its stablecoin upon the EOS blockchain.
Lastly, recent news broke that Facebook has as allegedly been in talks with several major U.S-based crypto exchanges as to the forthcoming issuance of its long-speculated stablecoin which has been dubbed Globalcoin.
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