Tether has announced USDT is set to see a launch on Bitcoin’s RGB protocol, allowing users to hold BTC and the stablecoin in the same wallet.
Something to note is that RGB isn’t a network layer on top of Bitcoin. Rather, it makes use of only client-side validation to confirm transactions. “RGB operates with no trusted third parties, no federations, no validators, and no coordinators,” said RGB Hub in the 0.11.1 launch announcement.
USDT is the largest stablecoin in the cryptocurrency sector, circulating on a slew of networks, and with Tether’s latest move, the token would finally become accessible to users of the original digital asset, Bitcoin.
Tether noted in the press release:
This announcement underscores Tether’s leadership in expanding the reach of stablecoins and its commitment to ensuring Bitcoin remains not only the original cryptocurrency but also the bedrock for global, everyday money.
So far, the stablecoin issuer hasn’t confirmed any date, but once launched, users will be able to hold and transfer both BTC and USDT directly from the same wallet. Paolo Ardoino, Tether CEO, said:
Bitcoin deserves a stablecoin that feels truly native, lightweight, private, and scalable. With RGB, USD₮ gains a powerful new pathway on Bitcoin, reinforcing our belief in Bitcoin as the foundation of a freer financial future.
As displayed in the above chart, the spot ETFs currently have their holdings around $813.9 million down since the peak. These latest outflows have occurred alongside BTC’s price decline.
The last time that long liquidations were this dominant was in May 2021. Back then, bulls were flushed by a massive crash in the Bitcoin price that put the bull run on pause for a few months.
Bitcoin has slowly been climbing up since its low earlier in the week as its price has now reached the $112,400 mark.
