Tether and USD Coin Throw Support Behind Ethereum Merge #togrp7
Two major stablecoin issuers have announced that they will fully support Ethereum’s switch to a Proof-of-Stake blockchain. Tether and USD Coin are both backing the long-awaited merge, which is due to take place in the middle of September. Given how both digital assets collectively have a market cap of $120 billion.
The company also stressed that it doesn’t anticipate any disruption to USDC’s ability to operate once the move to PoS is finalized — a milestone that will render miners obsolete and put validators in charge of verifying future transactions. Tether was equally bullish about the benefits that this new proof-of-stake network could bring — and said that, to ensure there’s no disruption to DeFi products or platforms, it’s important that the transition “is not weaponized to cause confusion and harm within the ecosystem.”#togrp7