Speed, the company behind the Speed Wallet, has launched USDT-L, the first iteration of Tether, the largest stablecoin on the crypto market, on top of Bitcoin’s Lightning Network (LN). The wrapped token, which takes advantage of the “taproot assets” protocol recently rolled out by Lightning Labs, seeks to bring all the benefits of LN to stablecoin assets. In a blog post, Speed stated that it “aims to expand the utility and adoption of both technologies, providing users with a stable-value option for quick and low-cost transactions.” Speed also highlights the privacy benefits of using USDT-L over USDT in other L1 chains, including that transactions happen off-chain, the routing of the payments is obfuscated, and there is limited information disclosure required for each transaction.
Tags in this story
Bitcoin.com
Since 2015, Bitcoin.com has been a global leader in introducing newcomers to crypto. Featuring accessible educational materials, timely and objective news, and intuitive self-custodial products, we make it easy for anyone to buy, spend, trade, invest, earn, and stay up-to-date on cryptocurrency and the future of finance.
Image Credits: Shutterstock, Pixabay, Wiki Commons
I want to buy
Bitcoin(BTC)
Automatically select best provider
More Popular News
Latest crypto news in your inbox
Get the newsletter directly to your inbox
Login to Bitcoin.com
Use this account to activate and manage your Bitcoin.com subscription
OR
Continue in the Bitcoin.com App
Get the latest news and market updates and invest in Bitcoin & crypto.
Read in app
