Tether, the world’s largest stablecoin issuer, is coming to Bitcoin. 

USDT, the company’s dollar-backed stablecoin, will soon be fully functional across both Bitcoin’s base layer and the Lightning Network, a Bitcoin scaling network, Tether CEO Paolo Ardoino announced onstage Thursday at a Bitcoin conference in El Salvador.

The integration marks a significant milestone for both Tether and Bitcoin, two dominant forces in crypto that had yet to combine forces. At a market capitalization of over $139 billion, USDT is handily the world’s top stablecoin, used by hundreds of millions of people worldwide as a secure form of payment linking traditional finance to the crypto economy.

Bitcoin, meanwhile, is by orders of magnitude the world’s largest and most influential cryptocurrency. But the Bitcoin network itself has been slow to attract on-chain users, given that it was not initially designed to support decentralized applications. 

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Author: Sander Lutz