Some Layer 2 (L2) solutions have begun integrating the USDT stablecoin for gas payments, announced Tether CEO Paolo Ardoino.

I hear again few rumors about a Tether Chain.
Tether is not planning to build an official blockchain at this time.
Simply different independent L2 solutions are working to support $USDt for gas fees.
— Paolo Ardoino 🤖🍐 (@paoloardoino) November 3, 2024

In response to rumors about Tether launching its own blockchain, Ardoino emphasized that the company does not plan to create its own network.

“One of the reasons Tether is not pursuing the launch of its own network is the commitment to neutrality. Our slogan ‘Unstoppable TogETHER’ highlights our dedication to partnering with other companies and communities, rather than concentrating governance within one entity,” explained Ardoino.

The CEO also mentioned that Tether is expanding its product lineup, but the release of the new development has been delayed by a week due to the pre-election situation.

In June, Ardoino announced that the company plans to invest more than $1 billion in startups after reviewing hundreds of venture proposals.

That same month, Tether launched its first “backed asset” with gold backing.

It’s worth recalling that in July, Ardoino noted that Tether had previously explored the possibility of creating its own blockchain but abandoned the idea due to market saturation.