Celo is currently migrating from a standalone blockchain to a new layer-2 atop Ethereum. The platform focuses on being a mobile-first network that offers multiple stable assets to users globally, but with a focus on emerging markets.

The integration of USDT on Celo expands the use cases for stable assets already on Celo, including remittances, savings, lending and cross-border payments, explained the press release.

According to the release, a Celo community-focused forum will propose using USDT as a gas currency, which will help make transactions more efficient within decentralized apps (dApps).

“The integration of Tether USDT on the Celo platform, which is built for the real world, will represent a significant step forward in our mission. By leveraging the unique capabilities of Celo, we can further enhance the usability and accessibility of Tether for millions of people,” said Paolo Ardoino, CEO of Tether.

Tether is already live on several other layer-1 networks, including Avalanche, Polygon and Near.

Stablecoin issuer Circle launched USDC on the Celo network in January.

Tether USDT Celo layer 1

Lyllah Ledesma

Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds a master's degree from New York University in Business and Economics and an undergraduate degree in Political Science from the University of East Anglia. Lyllah holds bitcoin, ether and small amounts of other crypto assets.