Bitfinex Adds USDT0 Support on Optimism for Faster Transactions

Bitfinex, a leading digital asset trading platform, has announced the launch of support for USDT0 on the Optimism network. This integration allows bitfinex customers to deposit and withdraw USDT0 directly on the Optimism network, enhancing the platform's capabilities and aligning with current market demands for stablecoin liquidity and transaction efficiency.

USDT0, developed by Everdawn and Layer Zero, is a crosschain stablecoin that serves as the omnichain-ready bridged version of Tether’s USDt. This stablecoin is managed by the USDT0 Consortium, an ecosystem initiative designed to expand USDt utility across various blockchains. Bitfinex customers can convert their USDt balances into USDT0 directly on the platform and then withdraw them to supported blockchains, including Optimism.

Optimism, a layer-2 scaling solution for Ethereum, leverages optimistic rollup technology to enhance transaction throughput and reduce fees. The integration of USDT0 on Optimism follows similar integrations on Ink and Arbitrum, further expanding Bitfinex's support for high-performance layer-2 platforms. This move is part of Bitfinex's strategy to provide unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world.

Anoush Bhasin, Head of Listings at Bitfinex, highlighted the significance of this integration, stating, “USDT0 stands as one of the most innovative stablecoins on the market, and it aligns with our mission to bring digital assets closer to everyday use. Our support of USDT0 on Optimism opens a direct channel for our customers to enjoy fast, cost-efficient transactions in a scalable ecosystem.”

This development underscores Bitfinex's commitment to enhancing stablecoin liquidity and transaction efficiency on high-performance layer-2 platforms. By supporting USDT0 on Optimism, Bitfinex is responding to market demands and providing its customers with more options for seamless and efficient transactions. The integration of USDT0 on Optimism is the latest addition to the stablecoin’s rollout, further solidifying Bitfinex's position as a premier digital asset trading platform.

Ask Aime: What impact will the launch of USDT0 on Optimism have on Bitfinex's user experience and market position?