727 FinanceTether-backed Utexo plans to issue USDT on the Bitcoin network this month. Utexo co-founder Viktor Ihnatiuk said that the company has obtained a commercial license to issue USDT on Bitcoin and plans to provide APIs, SDKs and cloud infrastructure for exchanges, wallets and payment service providers. Utexo will be based on the RGB protocol and the Bitcoin UTXO model, keeping most transaction data off-chain, and focusing on supporting three types of applications: USDT private transfers, direct exchange of native BTC and USDT, and mortgage lending using native BTC without encapsulating BTC to other blockchains. USDT was first issued on the Bitcoin network through the Omni protocol in 2014, and subsequently Ethereum and Tron gradually became the main circulation networks. Utexo also plans to expand to the Lightning Network after USDT is launched on the Bitcoin network. (CoinDesk)
Tether-backed Utexo plans to issue USDT on Bitcoin network this month
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