Tether Launches EURT Token

The new token will be issued via the Ethereum blockchain and will be compatible with the ERC20 standard
08 January 2018   2287

Tether, creator of a USDT token, has announced the creation of a euro tether (EURT) that is issued over the Ethereum blockchain and will be compatible with the ERC20 standard.     

According to the company, the Ethereum-based tether allows for tokenized USD and EUR to be transferred over the Ethereum network. This enables compatibility with Ethereum-based protocols and Decentralised Applications (DApps) whilst allowing users to transact and exchange fiat pegged currencies across the Ethereum Network.

Tether Limited believes that the compatibility with the ERC20 will lower network fees and much faster confirmation times resulting that will will create far more liquidity and exchange arbitrage.

The company also said it has completed two audits of the codebase and contracts using Zeppelin Audits and Phil Daian as third-party auditors. According to the inspections, there were no critical or high severity issues found and recommended some medium severity solutions. Phil Daian stated that if the company follows the recommendations, the ERC20 Tether contracts "will launch in a well tested, secure state".

At the moment of press, these are main market parameters of Tether:

  • Average price: $1,0
  • Marketcap: $1 473 169 427
  • 24h volume: $2 490 620 000 USD

Tether to Issue 250M USDT Tokens

After the new issue, the total number of issued tokens USDT reached 250 billion
21 May 2018   109

Tether conducted an additional issue, releasing 250 million new USDT tokens This is reported by CoinTelegraph.

USDT are the so-called Stable Coin (stable currency) - tokenized dollars, secured, as the company claims, by the national currency of the United States.

This is the second large USDT issue in recent months - in March the company issued 300 million coins.

After the new issue, the total number of issued tokens USDT reached 250 billion, the cryptocurrency community still doubts that all these coins are really provided with US dollars.

One of the critics of Tether is the anonymous blogger, Bitfinex'ED, who in March 2018 revealed a link between the release of new Tether coins and the rising prices for bitcoin and Ethereum. After the current release of new USDT tokens, the rate of bitcoin for an hour increased by about $ 120, and Ethereum - by $ 10.

Earlier, the Bitfinex exchange in Hong Kong, which is known to have close ties to Tether, threatened Bitfinex'ED with a lawsuit. However, since the audit of the company was not conducted, the reliability of the ratio 1 USDT to $ 1 is still not proven.