According to the announcement CTO at Tether, Paolo Ardoino said:
" We are excited to launch USDT on Polygon, offering its community access to the most liquid, stable, and trusted stablecoin in the digital token space".
He further by saying:
"The Polygon ecosystem has witnessed historical growth this year and we believe Tether will be essential in helping it continue to thrive."
Tether is the world's third-largest cryptocurrency with a market capitalization of more than $75 billion, as of May 2022, trailing only Bitcoin and Ethereum will benefit Polygon's DeFi ecosystem for it is designed to have a one-to-one exchange rate with the US dollar.
USDT is also frequently ranked as the cryptocurrency with the highest daily trading volume.
Polygon Network
Polygon is a "layer two" or "side chain scaling solution that runs alongside the Ethereum blockchain allowing for speedy transactions and low fees according to Coinbase definition.
MATIC is the network's native cryptocurrency, which is used for fees, staking, and more.
Polygon Ecosystem allows you to do many of the same things the main Ethereum network allows, however, with a fraction of cent fees.
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