Summary
- Corn announced that it has selected USDT0 as its official stablecoin through a partnership with Tether.
- Through USDT0, stablecoins can be seamlessly transferred across multiple blockchains, and existing USDT can be efficiently converted, the company said.
- Chris Spadaboom stated that the collaboration with USDT0 will play an important role in expanding Corn's BitcoinFi ecosystem.
Bitcoin (BTC) based Ethereum Layer 2 Corn announced on the 13th that it has formed a partnership with Tether and designated USDT0 as its official stablecoin.
USDT0 is a stablecoin launched in January by stablecoin issuer Tether in collaboration with omnichain messaging protocol LayerZero, cryptocurrency exchange Kraken, and others. It extends the existing USDT in an omnichain manner to support seamless stablecoin transfers across multiple blockchains.
This solves the inefficiency of the existing USDT, which operates independently on various blockchains, making cross-chain transfers inefficient.
USDT0 is backed 1:1 with USDT on Ethereum, and existing USDT can be easily converted to USDT0. Through this partnership, Corn has secured a gateway to connect over $140 billion in USDT funds to the Corn ecosystem.
Chris Spadaboom, co-founder of Corn, said, "The collaboration with USDT0 plays an important role in establishing Corn as a BitcoinFi (BTCFi) centered network," adding, "This will enable smooth transactions and capital operations within the ecosystem, maximizing the scalability and efficiency of BitcoinFi."
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