Tether, the largest stablecoin provider in the cryptocurrency industry, announced a new wallet application that allows users to manage their digital assets directly and more practically. This application, which the company calls “tether.wallet”, allows users to store and transfer stablecoins such as USDT and USAT, as well as gold-backed XAUT and Bitcoin, on multiple blockchains.
New generation payment: Ease of transaction and personal security come to the fore
One of the highlights of Tether.wallet is that it offers the opportunity to pay transaction fees directly on the transferred asset. In addition, using readable addresses specific to users’ names (“[email protected]”) instead of long and complex wallet addresses makes cryptocurrency transfers much more practical.
This user-friendly approach aims to make stablecoins more common in payments and transfers in daily life. One of the most important security features of the application is that private keys are stored directly on the user device and signed transactions are carried out with complete personal control.
Tether’s new move leaves the USDT ecosystem, which the company has indirectly delivered to millions of users through central exchanges and payment infrastructures to date, to the management of users without intermediaries. According to Tether, more than 570 million people currently actively use the company’s technologies, directly or indirectly.
An important step in Tether’s digital economy vision
With its new application, Tether is based on the open source toolkit called Wallet Development Kit (WDK) that it previously developed. This toolkit was developed to provide third-party developers with a faster and easier solution for cryptocurrency transfers. Applications such as the Rumble wallet use this infrastructure to provide payment services to content creators and direct transfer services between individuals.
While applications that provide direct service to the user are rapidly becoming widespread in the industry, it is noteworthy that Tether has stepped into this field for the first time. While the company was previously positioned solely as a digital dollar issuer, it has now launched a platform with a direct user interface.
Tether CEO Paolo Ardoino stated that “tether.wallet demonstrates Tether’s transformation from its founding role in the digital economy infrastructure to a platform that anyone can easily use; they are preparing for a world in the future where billions of people and artificial intelligence-based systems will make transactions at the speed of light.”
After its establishment in 2014, Tether solved the liquidity problem of the crypto market, especially with USDT, and played a leading role in the spread of stable currencies. The company’s main field of activity was to produce various digital assets, especially stablecoins indexed to the US dollar, and to ensure their stable use in the market.
Now, with this application that reaches the end user directly, Tether separates itself from its standard issuer identity and enters the competition in the field of services for end users. Industry experts point out that this development may contribute to the increase of crypto payments, especially in developing countries.
