On March 27, 2024, Tether and Celo Foundation announced that USDT is available natively on Celo. As the largest stablecoin in the world, USDT is one of the most widely used, global stablecoins on the market.
Starting today, you can hold, send, and receive USDT directly in your Valora wallet at the speed of sending a text.
[TL:DR;]
- What is USDT? Tether’s native USDT is the largest stablecoin in the world and one of the most popular global currencies. Like USDC, USDT is pegged 1:1 to the US dollar, maintaining low volatility regardless of market conditions.
- Why is this exciting? USDT on Valora means you can easily save and transfer value in USD from anywhere in the world while enjoying Celo’s low fees and instant transactions.
- How can I use USDT in Valora? Just download Valora and tap “Buy” on the home screen to purchase USDT.
What’s next? In addition to USDT, new features, improvements, and currencies are rapidly being added in-app. Follow @Valora and enable notifications to keep up with the latest updates.
What is USDT?
Tether’s native USDT is the largest stablecoin in the world and is available on nearly every major blockchain. Tether itself holds a market cap of over 100 Billion, making it the leading method of transferring USD value on-chain. USDT is backed 100% by Tether’s reserves - collateralized by a variety of cash and cash-equivalent assets.
Like USDC, USDT is pegged 1:1 to the US dollar and was the first fiat-backed stablecoin. USDT functions as a bridge between centralized and decentralized banking, making it a popular, more stable alternative to fiat currency in emerging markets and countries impacted by rising inflation.
Why is this exciting?
As the most widely traded stablecoin, USDT on Celo brings real-world use cases to Valora through high-speed and low-cost transfers - making it ideal for in-country or cross-border payments. You can now easily save and transfer value in USD from anywhere in the world (in 13+ languages) right from your phone.
The ability to save in USD opens the door to a world of financial opportunities across both crypto applications and traditional currencies. USDT is anchored at $1 USD per coin. So, while local currencies can depreciate, a stable asset maintains secure pricing and low volatility - an accessible alternative for saving and transacting.
With USDT on Valora, you can enjoy:
- Access to the world’s most popular stablecoin
- The ability to transact globally using a stable, widely-adopted currency
- Instant, low-cost transactions on Celo
- A simplified wallet experience for holding, sending, and receiving USDT
How can I use USDT in Valora?
Download Valora (if you haven’t already!) to start using USDT on Celo.
Buy USDT
- Tap “Buy” on your home screen.
- Select “USDT” from the Token list.
- Enter the amount of USDT you would like to add.
- Select your provider.
- Proceed with your order (you may be asked to confirm your identity using a government-issued ID.)
- Return to your Valora wallet.
- Tap “View assets” to view and manage your portfolio.
Swap USDT
(In-app)
- Open Valora and tap “Swap” in Valora’s quick actions menu
- Tap “Swap From” to view tokens list
- Select one of your Celo assets
- Add the amount you would like to swap
- Tap “Swap to” and select “USDT”
- Review the exchange rate and estimated network fees
- Tap “Confirm Swap” to complete the transaction
Note: you will need to have some CELO in your wallet to pay for gas fees.
What’s next?
Good things are in store. Check back here soon and follow @Valora and @Celo to keep up-to-date as more features become available.
