Tether, the company behind the most well-known stablecoin, USDT, released a self-custodial cryptocurrency wallet on Tuesday with the goal of giving consumers direct control over its stablecoin network and making cryptocurrency payments as simple as sending a message.
The new program, tether.wallet, enables users to store and transfer bitcoin; gold-backed token XAUT (XAUT); and stablecoins USDT and USAT (USAT) across several blockchains. By allowing users to pay transaction fees in the asset they transmit and substituting human-readable names like “name@tether.me” for lengthy wallet addresses, it eliminates common friction points.
Tether’s move is noteworthy because it represents a change from being an intermediary in cryptocurrency payments to a consumer-facing program that issues the $185 billion USDT token, the most widely used digital currency.
According to Tether, over 570 million people already use its technology, mostly indirectly through payment rails and exchanges. With the new wallet, users may sign transactions on their own devices and manage their private keys through a direct interface.
The launch expands upon Tether’s Wallet Development Kit (WDK), an open-source framework the company created for third-party initiatives like the Rumble wallet, which leverages Tether’s infrastructure to facilitate peer-to-peer transactions and creator payments.
Source: X.com
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