Tether-backed Utexo will issue USDT on Bitcoin this month, co-founder Viktor Ihnatiuk told CoinDesk. The company has secured a commercial license to issue the stablecoin there.
Built on the RGB protocol and Bitcoin's UTXO model, Utexo will offer private USDT transfers, native BTC-USDT swaps and BTC-backed lending without wrapping Bitcoin. Instead of freezing addresses, Utexo will blacklist UTXOs tied to illicit activity. Lightning support is planned after launch.
USDT, now a nearly $190B stablecoin, debuted on Bitcoin via Omni in 2014 before moving to Ethereum and Tron. Utexo raised a $7.5M seed round backed by Tether this year.
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