Tether moves 3 million USDT to OMG Network - The Block
Stablecoin issuer Tether has moved 3 million USDT coins, tied 1:1 to the U.S. dollar, to the OMG Network from Ethereum.
The move appears to be the first major transaction after Tether integrated with the OMG Network last week. OMG is a layer-2 scaling solution and is designed to reduce congestion on the Ethereum blockchain.
Tether CTO Paolo Ardoino told The Block that layer-2 solutions, in general, are growing in popularity as a scalability mechanism for popular blockchains Lightning Network for Bitcoin, and OMG and zkRollups for Ethereum.
