Plasma has transferred over 1 billion USDT to USDT0 in preparation for the mainnet launch.

According to ChainCatcher, analyst Emmett Gallic reports that Plasma has transferred over 1 billion USDT to USDT0 in preparation for the mainnet launch. This will enable Plasma to have significant USDT liquidity immediately.

USDT0 is a cross-chain USD stablecoin launched by Tether, aiming to expand USDT to new blockchains, provide a seamless experience for users and developers, and always maintain a 1:1 peg with USDT on Ethereum. USDT0 is built using LayerZero's OFT standard for deploying and transferring assets on new chains.