USDT and XAUT Launch Their Omnichain Versions on Solana to Boost DeFi Growth Translation: USDT and XAUT Launch Their Omnichain Versions on Solana to Boost DeFi Growth

The omnichain versions of the USDT stablecoin and tokenized gold XAUT from Tether are now accessible on the Solana network. This integration has been implemented through the Legacy Mesh protocol based on LayerZero.

Developers believe that this will strengthen Solana’s position as a settlement layer for on-chain finance and real-world assets (RWA).

The assets USDT0 and XAUT0 are not directly issued by Tether. They are part of a third-party omnichain network that consolidates the native liquidity of USDT across different blockchains. Previously, USDT0 was deployed on Ethereum, OP Superchain, Polygon, TON, and Arbitrum networks.

Legacy Mesh facilitates interoperability by merging the native liquidity pools of USDT. This allows for the direct transfer of «stablecoins» between networks without the need for wrapped tokens or third-party bridges. This approach addresses the fragmentation of assets and mitigates risks that remain pertinent in multi-chain systems when relying on external solutions.

According to company reports, over $25 billion has flowed through USDT0 since its launch, executed via 32,000 transactions. The overall market capitalization of the USDT stablecoin is approximately $181 billion.

Tamar Menteshashvili, head of the stablecoin department at Solana Foundation, stated that this integration will bolster the growth of DeFi, payments, and institutional-grade financial products on Solana, particularly in treasury management, remittances, and collateralized lending.

XAUT0 is the omnichain version of Tether Gold. This product brings physical gold onto the blockchain, endowing it with programmability features similar to digital assets like Bitcoin.

It is worth noting that Bloomberg journalists reported that Tether and the Bitmain-affiliated financial firm Antalpha aim to raise $200 million to establish a treasury structure in XAUT.