PRESS RELEASE
By: BlockchainWire
November 1, 2024
Tether AC Set to Collaborate with Sol x Foundation to Launch Sol x USDT, Create Regulatory and Compliance Across Europe and Asia.
The Sol x Foundation’s mission is to explore innovative ways to ensure the legal use of blockchain technology in regions such as the USA, Europe, Asia Pacific, China, Hong Kong, and Singapore, where governments are actively developing digital currencies. Sol x USDT will be authorized by the Sol x Foundation and could become a model for regulatory compliance, especially within the rapidly expanding web3 space.
As regulatory pressure intensifies, the launch of Sol x USDT is expected to replace the current USDT across all exchange platforms by 2025. This strategic collaboration between Tether AC and the Sol x Foundation aims to ensure compliance with both European and Asian regulations, positioning Sol x USDT as the preferred stablecoin for exchanges in these regions. This shift will enable exchanges to maintain regulatory standards while continuing to offer stablecoin services to users.
As blockchain technology continues to advance, the partnership between Tether AC and the Sol x Foundation marks a significant step in the development of compliant digital assets. With the regulatory landscape becoming increasingly complex, collaborations like these could offer a pathway for stablecoins to thrive both in Europe and globally while adhering to MiCA and similar regulations in Asia.
In addition, the Sol x Foundation is also developing a new web3 blockchain with Layer 3 support, called Sol x Chain. Based on Solana 1.0, this blockchain has been upgraded to the Solana X Chain, leveraging Chainlink Technology to integrate financial and investment databases. Through this integration, Sol x Chain aims to create a secure, efficient ecosystem for digital assets by linking data from financial institutions and exchanges.
By collaborating with others, the platform aims to establish Sol x Chain as a leader in blockchain finance, providing the infrastructure for decentralized finance (DeFi) and investment services worldwide. The success of Sol x USDT and Sol x Chain could reshape the stablecoin landscape, offering innovative solutions that meet legal requirements without stifling the progress and potential of blockchain technology.
Website link:https://solana.com/
https://solana-x.vercel.app/
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