Utexo is preparing to bring Tether’s dollar-backed stablecoin back to Bitcoin after a three-year hiatus.
The Dubai-based blockchain startup says it will achieve the integration through RGB, a protocol that keeps asset transaction data off-chain.
The public launch is scheduled for Nov. 28, with Lightning Network support planned for Q1 2027, promising private transfers and fast payments via Bitcoin’s payment network.
But with $300 billion of stablecoin supply already circulating on networks like Ethereum and Tron, why would users want to transact on a slower network that doesn’t offer smart contracts or DeFi? Can it compete with the stablecoin incumbents?
$300 billion of stablecoin supply. Source: DeFiLlama
Why bring USDT back to Bitcoin?
This isn’t the first time we’ve seen USDT on Bitcoin. It actually began life as a stablecoin on Bitcoin in 2014 through the Omni protocol, but Tether eventually halted issuance in August 2023,
