Tether-backed Utexo project plans to launch USDT on the Bitcoin network this month.
52 minutes ago
Utexo, backed by Tether, plans to launch USDT on the Bitcoin network this month. Utexo co-founder Viktor Ihnatiuk stated that the company has secured a commercial license to issue USDT on Bitcoin, and intends to provide APIs, SDKs, and cloud infrastructure for exchanges, wallets, and payment service providers. Built on the RGB protocol and Bitcoin’s UTXO model, Utexo will keep most transaction data off-chain, focusing on three core use cases: USDT private transfers, direct swaps between native BTC and USDT, and native BTC collateralized lending—eliminating the need to wrap BTC for use on other blockchains. USDT was first issued on Bitcoin via the Omni protocol in 2014, before Ethereum and Tron emerged as its primary circulating networks. Utexo also plans to expand support to the Lightning Network following USDT’s Bitcoin launch. (CoinDesk)
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