According to a crypto website, The Block, Bitfinex, a large crypto asset exchange, will be launching the Tether (USDT) stablecoin managed by Tether or the Lightning Network.

Bitfinex is a crypto exchange owned by iFinex Inc. and was founded in December 2012. Currently, the exchange is listed as the 40th crypto exchange by adjusted value in coinmarketcap.com.

As stated by The Block, Paolo Ardoino, the Chied Technology Officer (CTO) of Bitfinex, mentioned that the exchange has scheduled to release USDT on Lightning Network later in 2019. In order to further this goal, the company supposedly cooperated with the RGB project.

The RGB project, based on its GitHub repository, is an entirely free, non profit, open-source and community-oriented effort intended to develop standards for issuing, transmitting and storing crypto assets.

Ardoino also announced that the development was one of the best projects Bitfinex had participated in as of today.

He continued saying that Bitfinex has the intention to support the Lightning Network’s project. In April of 2017, Tether released a post demonstrating that the firm was already planning to launch a stablecoin at the time.

Tether, based on Cointelegraph’s report, has announced its up and coming partnership with Block.one, an open-source software publisher that began offering EOS tokens in June 2017. This partnership’s motive is to launch its stablecoin on the EOS blockchain.

Lately, it came out that the American social networking service Facebook held negotiations with large crypto exchanges from the United States about the launch of its stablecoin.

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