Tether-pegged USDT0 omnichain stablecoin passes $50 billion in cumulative transfers
USDT0, the Tether-pegged stablecoin issued by Everdawn Labs, has surpassed $50 billion in cumulative transfers. Over one-fifth of that value was reportedly transferred in the last month alone.
"This milestone was achieved just 10 months after the network’s launch in January 2025, cementing USDT0’s position as the fastest-growing cross-chain USDT liquidity network, powering payments, remittances, and institutional settlement across the leading blockchain ecosystems," the company said in a statement on Tuesday.
Since launching, USDT0 has powered over 415,000 across the 15 networks on which it operates, including EVM chains like the Ethereum mainnet and Arbitrum, Ink, and Sei L2s, Bitcoin-powered scaling layers Corn and Rootstock, and payments-focused networks Conflux and Plasma, among other alternative networks like HyperLiquid and Solana.
USDT0 is a fully onchain representation of Tether's USDT stablecoin, enabling the world's largest asset to extend onto chains where it is not natively issued. The tokens are minted on their destination chain using LayerZero's Omnichain Fungible Token standard and maintain a 1:1 backing with USDT.
"USDT0 represents the evolution of user-experience that the digital assets and payments industry needs to scale out and be truly embedded in the fabric of the world itself. USDT0 technology transforms stablecoins from a single-chain asset into a true monetary mesh infrastructure," said Paolo Ardoino, CEO of Tether
Everdawn Labs also manages an omnichain version of Tether Gold, XAUT0. According to USDT0 co-founder Kevin M., the project began as “a startup within the Tether ecosystem.” It was first issued on the Kraken-incubated INK Layer 2.
Last week, Paxos and LayerZero launched USDG0, an omnichain version of the Global Dollar backed by a consortium of firms including Anchorage Digital, Bullish, Kraken, OKX, Robinhood, and Worldpay, among others.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
You May Also Like
Gold Hits $3,700 as Sprott’s Wong Says Dollar’s Store-of-Value Crown May Slip
Nvidia Invests $5 Billion in Intel for Chip Development
