KEY TAKEAWAYS
- Stablecoins, particularly Tether’s USDT, are driving significant growth in the Aptos blockchain ecosystem, contributing to nearly 40% of its $1 billion TVL.
- USDT’s integration on Aptos enhances the network’s efficiency for digital transactions, offering low gas fees and rapid processing times.
- Circle’s USDC will soon be available on Aptos, introducing the Cross-Chain Transfer Protocol for seamless transactions across multiple blockchains.
- Aptos Labs partners with the Hong Kong Monetary Authority for the e-HKD pilot, exploring the future of central bank digital currencies.
Stablecoins have significantly contributed to the growth of the Aptos blockchain ecosystem, accounting for nearly 40% of the network’s $1 billion in Total Value Locked (TVL). This momentum highlights Aptos’ capability to support innovative financial projects and the tokenization of real-world assets on a secure, scalable, and cost-effective network.
Tether’s USDT, one of the world’s most widely used stablecoins with a market cap exceeding $130 billion, is now natively supported on the Aptos blockchain. This development allows developers to integrate stablecoin functionality into their applications, facilitating the creation of new financial tools for efficient digital transactions.
With its low gas fees and rapid processing times, USDT on Aptos offers efficiency for both micro-transactions and large-scale operations, reducing costs for users while enhancing the network’s appeal to a global audience. Native USDT is now supported across various Aptos decentralized applications (dApps) and exchanges, including MEXC and Bitfinex.
USDC and Cross-Chain Transfer Protocol Integration
Circle’s USDC, the second-largest stablecoin by market cap, will soon be available on the Aptos network. Known for its high levels of regulation and transparency, USDC’s integration will also introduce the Cross-Chain Transfer Protocol to Aptos. This protocol ensures seamless USDC transfers between Aptos and eight other major blockchains, including Arbitrum, Base, Ethereum, and Solana.
The integration opens over 72 pathways for cross-chain transactions, facilitating onboarding, swapping, treasury rebalancing, and more, all with 1:1 capital efficiency. Additionally, Stripe, a leader in payment solutions, will launch its services on Aptos, providing a reliable fiat on-ramp for merchant pay-ins and payouts using Aptos-compatible wallets.
Ondo Finance’s USDY and e-HKD Pilot with Aptos Labs
Ondo Finance’s USDY, a permissionless yieldcoin, launched on Aptos in the summer of 2024. USDY is backed by a bankruptcy-remote portfolio of native US Treasuries and is supported by major protocols within the Aptos ecosystem, including Aries Markets, Thala Labs, and LiquidSwap. With over $400 million in TVL across multiple blockchains, USDY combines stablecoin utility with features aligned with traditional finance standards.
In another significant development, the Hong Kong Monetary Authority (HKMA) has launched the second phase of its digital Hong Kong dollar (e-HKD) pilot, selecting Aptos Labs as the premier blockchain partner. This initiative aims to advance regulated digital assets and explore the future of central bank digital currencies (CBDCs). The project involves global partners such as Boston Consulting Group, Hang Seng Bank, HSBC, BlackRock, Visa, and Mastercard, with Aptos Labs being the sole blockchain-focused organization involved.
The project will prototype and test the commercial feasibility of e-HKD for individuals and businesses, focusing on the settlement of tokenized assets, programmability, and offline payments. Aptos Labs, Hang Seng Bank, and BCG will specifically test the commercial value of settling a tokenized fund using digital money on a public blockchain.
With major stablecoins and institutions joining the Aptos network, the blockchain is solidifying its role as a cornerstone for global finance, empowering builders and users worldwide to drive the next generation of decentralized and enterprise-grade financial innovation.
For more details, visit the announcement here.
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