In line with a recent report published by ‘The Block’, renowned global crypto-currency exchange namely ‘Bitfinex’ is looking forward to launch the USDT stablecoin operated by its parent firm Tether on the Lightning Network.
According to the report, Bitfinex’s CTO ‘Paolo Ardoino’ told the outlet that the firm plans to launch Tether [USDT] on the lightning network by later this year. To pursue this objective, the company reportedly collaborated with the RGB open source development project.
As per the GitHub repository, the ‘RGB project‘ is “a free, open-source, non-profit and community-oriented effort, promoted by the BHB Network and is aimed towards the development of standards and best practices to issue, transmit and store ‘Bitcoin-based non-bitcoin assets.’” The Block additionally cited Ardoino commenting on the event of development, stating that it’s “one of the smart things”.
The company’s CTO additionally adds that Bitfinex need to contribute to the LN’s development. A post ‘published‘ by Tether earlier in the month of April 2017 reveals that the firm already had such plans for the stablecoin at the time.
Just recently, an another news broke-out that social media giant Facebook has ‘reportedly‘ held talks with the leading U.S.-based cryptocurrency exchanges associated with the issuance of its ‘long-rumored‘ stablecoin called ‘Facebookcoin’.