June 21 (Cointime) - Tether has expanded its multi-chain presence by launching its USDT stablecoin on Kava, a Layer 1 blockchain built on the Cosmos network. Kava joins over a dozen other blockchains, including Ethereum, Solana, and Algorand, in hosting USDT. Paolo Ardoino, Tether's CTO, praised Kava's four-year track record of zero security issues, which is crucial for protecting USDT users.

Tether and Kava are working together to promote the adoption of decentralized finance (DeFi), according to Ardoino. Although USDT is available on many blockchains, Ethereum and Tron still have the highest usage, as shown in The Block's Data Dashboard chart. Tether's USDT is the largest stablecoin by market capitalization, with a staggering $83 billion market capitalization according to the dashboard.