Following recent developments in the sphere of stablecoins, Tether (USDT) has announced that it’s coordinating a chain swap to transfer USDT assets from Tron’s TRC20 to Ethereum and Avalanche’s blockchain.
In a Tweet, Tether said that 1 billion USDT will be moved from Tron’s blockchain to Ethereum. On the other hand, an additional 20 million USDT will be converted to Avalanche. According to Tether, this will not change the total supply of the stablecoin.
In few minutes Tether will coordinate with a 3rd party to perform a chain swap, converting from Tron TRC20 to Ethereum ERC20, for 1B USDt and from Tron TRC20 to Avalanche, for 20M USDt. The #tether total supply will not change during this process.
— Tether (@Tether_to) May 12, 2022
The announcement came amid