{"id":7011,"date":"2022-01-02T10:00:58","date_gmt":"2022-01-02T03:00:58","guid":{"rendered":"https:\/\/news.bitcoinvn.io\/?p=7011&#038;lang=en"},"modified":"2024-05-13T07:42:20","modified_gmt":"2024-05-13T00:42:20","slug":"bitcoinvn-adding-support-for-usdt-on-solana","status":"publish","type":"post","link":"https:\/\/bitcoinvn.io\/news\/bitcoinvn-adding-support-for-usdt-on-solana\/","title":{"rendered":"BitcoinVN adding support for USDT on Solana"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Ongoing criticism for several years notwithstanding &#8211; <a href=\"https:\/\/news.bitcoinvn.io\/usdt-on-tron-now-available\/?lang=en\">USDT<\/a> (aka \u201cTether\u201d)<span style=\"color: #ffffff\">.<\/span>remains the stablecoin of choice in the Asian crypto markets<span style=\"color: #ffffff\">.<\/span>and hence in a globally dominant position.<\/span><\/p>\n<p><a href=\"https:\/\/www.bitcoinvn.io\"><span style=\"font-weight: 400\">BitcoinVN<\/span><\/a><span style=\"font-weight: 400\"> has thereby taken the logical choice to offer USDT<\/span><a href=\"https:\/\/bitcoinvn.io\/?deposit=usdtsol&amp;settle=vnd\"><span style=\"font-weight: 400\"> deposits<\/span><\/a><span style=\"font-weight: 400\"> and <\/span><a href=\"https:\/\/bitcoinvn.io\/?deposit=vnd&amp;settle=usdtsol\"><span style=\"font-weight: 400\">withdrawals<\/span><\/a><span style=\"font-weight: 400\"> on its cryptocurrency exchange with direct access to the Vietnamese banking system or alternatively cash withdrawals in major locations across Vietnam.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In the third quarter of 2020 Tether became the first stablecoin to be issued on the Solana blockchain, which managed due to the strong backing b<\/span><span style=\"font-weight: 400\">y <\/span><a href=\"https:\/\/ftx.com\/#a=BitcoinVNNews\"><span style=\"font-weight: 400\">FTX<\/span><\/a><span style=\"font-weight: 400\"> \/ Alamaha Research<\/span><span style=\"font-weight: 400\"> around Sam Bankman-Fried to be one of the major challengers to Ethereum in the \u201cDeFi\u201d space.<\/span><\/p>\n<p><span style=\"font-weight: 400\">While Tethers total issuance kept climbing from around 20 billion USD<span style=\"color: #ffffff\">.<\/span>to over 70 billion USD just in 2021,<span style=\"color: #ffffff\">.<\/span>the ceaseless rumors about insolvency \/ lack of full backing have been providing<span style=\"color: #ffffff\">.<\/span>numerous job opportunities in the industry by writing headline-driven articles<span style=\"color: #ffffff\">.<\/span> and tweets of how the world\u2019s leading stablecoin is looming on imminent collapse.<\/span><\/p>\n<figure id=\"attachment_7012\" aria-describedby=\"caption-attachment-7012\" style=\"width: 512px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-7012\" src=\"https:\/\/news.bitcoinvn.io\/wp-content\/uploads\/2021\/12\/Tethers-official-response-to-the-way-they-conduct-their-business.png\" alt=\"[Caption Tethers official response to the way they conduct their business]\" width=\"512\" height=\"288\" srcset=\"https:\/\/bitcoinvn.io\/news\/wp-content\/uploads\/2021\/12\/Tethers-official-response-to-the-way-they-conduct-their-business.png 512w, https:\/\/bitcoinvn.io\/news\/wp-content\/uploads\/2021\/12\/Tethers-official-response-to-the-way-they-conduct-their-business-300x169.png 300w\" sizes=\"auto, (max-width: 512px) 100vw, 512px\" \/><figcaption id=\"caption-attachment-7012\" class=\"wp-caption-text\"><em><\/p>\n<p>[caption: <a href=\"https:\/\/twitter.com\/paoloardoino\/status\/1450814878948675593\">Tethers official response<\/a> to the way they conduct their business]<\/em><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">As always &#8211; do your own research when utilizing any crypto assets.<\/span><\/p>\n<p><a href=\"https:\/\/tether.to\/tether-and-bitfinex-reach-settlement-with-new-york-attorney-generals-office\/\"><span style=\"font-weight: 400\">Tether recently cleared itself from long-ongoing legal proceedings with the New York Attorney General\u2019s Offic<\/span><\/a><span style=\"font-weight: 400\">e in relation to the disputed backing of USDT. The agreed settlement with the NYAG included Tether\/Bitfinex admitting to no wrongdoing.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Solana on the other hand is a Blockchain launched in 2019<span style=\"color: #ffffff\">.<\/span>which thanks to a more uncompromising approach towards heavy centralization<span style=\"color: #ffffff\">.<\/span>is able to perform transactions far faster and cheaper than Ethereum<span style=\"color: #ffffff\">.<\/span>and has thereby increasingly risen in market share in the \u201cDeFi\u201d and NFT space.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ongoing criticism for several years notwithstanding &#8211; USDT (aka \u201cTether\u201d).remains the stablecoin of choice in the Asian crypto markets.and hence in a globally dominant position. BitcoinVN has thereby taken the logical choice to offer USDT deposits and withdrawals on its cryptocurrency exchange with direct access to the Vietnamese banking system or alternatively cash withdrawals in [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":7013,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,10549],"tags":[],"class_list":["post-7011","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoinvn-business","category-featured-sub-panel"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BitcoinVN adding support for USDT on Solana - BitcoinVN News<\/title>\n<meta name=\"description\" content=\"Ongoing criticism for several years notwithstanding - USDT (aka \u201cTether\u201d) remains the stablecoin of choice in the Asian crypto markets 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