Tether launches recovery tool that allow users to move USDT between blockchains in the event that any blockchain on which USDT is available becomes disrupted

tether.to/en/safeguarding-tether-tokens-a-comprehensive-approach-to-blockchain-resilience-and-user-protection

On Mar 4, 2024, Tether launches recovery tool that allow users to move USDT between blockchains in the event that any blockchain on which USDT is available becomes disrupted.

Tether’s recovery tool that enable migration of USDT between blockchains will ensure accessibility for USDT holders in case a blockchain becomes unresponsive, unreliable or unusable.

 Hundreds of millions of users use Tether’s USDT worldwide. USDT is the world's largest stablecoin. On Mar 4, 2024, USDT hit $100 billion market cap.

USDT stablecoin is a layer 2 money that act as an intermediary to transfer value. USDT is backed by cash and cash equivalent. 90% of Tether’s reserves are cash and cash equivalent.

USDT are available on many blockchains include:

1. Omni Protocol Token via Bitcoin Blockchain

2. ERC20 Token via Ethereum Blockchain, Avalanche Blockchain and Cosmos Blockchain (via Kava)

3. TRC20 Token via Tron Blockchain

4. EOSIO.TOKEN via EOS Blockchain

5. Liquid Asset via Liquid Blockchain

6. Algorand Asset via Algorand Blockchain

7. SLP Token via Bitcoin Cash Blockchain

8. Solana Token via Solana Blockchain

9. Statemint Asset via Polkadot Network

10. Statemine Asset via Kusama Network

11. Tezos Token via Tezos Blockchain

Users can initiate the migration process accessible via web or command-line tools. Tether said that USDT recovery tool will be available on software wallets such as MetaMask or hardware wallets such as Ledger or Trezor.