USDT0 on Stellar deposits and withdrawals now available!

We’re pleased to announce that Kraken now supports deposits and withdrawals of USDT0 on the Stellar network. Clients can now move USDT0 with settlement in roughly five seconds and typical network transaction fees of only a fraction of a cent. USDT0 funding via Stellar is now live.

Make sure to deposit your tokens into networks supported by Kraken. Deposits made using other networks will be lost.

Stellar is an open-source blockchain built for payments. Transactions settle in roughly five seconds and network fees typically cost a fraction of a cent, making it well-suited for moving stablecoins at scale. Stellar powers cross-border payments, fiat on and off ramps, and stablecoin issuance for financial institutions, fintechs, and exchanges around the world.

USDT0 is an omnichain version of Tether’s USDT, built on LayerZero’s Omnichain Fungible Token (OFT) standard. It uses a lock-and-mint model: USDT is locked on Ethereum and an equivalent amount of USDT0 is minted on the destination network, so each USDT0 stays backed 1:1 by USDT. USDT0 can be redeemed 1:1 for USDT, and the supply on every connected network always matches the USDT locked on Ethereum.

Note: Geographic restrictions may apply

Please note:  

• Trading via Kraken App and Instant Buy will be available once the liquidity conditions are met (when a sufficient number of buyers and sellers have entered the market for their orders to be efficiently matched).
• Geographic restrictions may apply

Yes! But our policy is to never reveal any details until shortly before launch – including which assets we are considering. All of Kraken’s available tokens can be found here, and all future tokens will be announced on our Listings Roadmap and social media profiles. Our client engagement specialists cannot answer any questions about which assets we may be making available in the future.

Although the term “stablecoin” is commonly used, there is no guarantee that the asset will maintain a stable value in relation to the value of the reference asset when traded on secondary markets or that the reserve of assets, if there is one, will be adequate to satisfy all redemptions.

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