Tether has announced that it has made it’s much awaited debut on the Ethereum-powered OMG network layer.
In the announcement, the stablecoin said it would make use of the new OMG network’s features and qualities to facilitate faster payments.
It should be recalled that the new OMG network was formerly known as OmiseGo and was widely used by traders to make transactions on the Ethereum blockchain.
Amongst other things, the payment network promises fast transactions because it carries out thousands of transactions every second. It is also secure, cheap, and makes use of little or less electricity for its operations.
Tether promises its clients massive benefits as it moves to the OMG network
In the blog post posted by Tether, they said their clients would benefit more from this as they would enjoy speedy and secure transactions at a reduced tariff. Furthermore, the firm also noted that its client base would no longer need to compromise its security while making transactions due to the new OMG network.
Talking about the new initiative, the CTO of Tether and digital asset outfit, Bitfinex, Paolo Ardoino, said the firm was committed to providing services that would ease their clients when they make transactions.
Due to our movement to the OMG network, there are many better things that our clients will enjoy as we hope to improve our performance.
OMG networks CEO says the firm would be able to confirm transactions at a reduced rate
The movement to the new network would be a big win for the clients of Tether and Bitfinex, as they would be the biggest winners in all this. In his review, the OMG network chief, Vansa Chatikavanij, said the firm was happy with the new partnership with Tether.
With the new partnership, we would be able to cater to our clients’ transactional needs at a more reduced rate than Ethereum.
Furthermore, Ardoino has promised that this move will further the drive for the adoption of digital assets worldwide.