USDT News: El Dorado SuperApp Surpasses 500,000 Users in LATAM
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El Dorado, a leading SuperApp in Latin America, has achieved a significant milestone by surpassing 500,000 users. The platform is revolutionizing stablecoin payments and cross-border transactions in the region.
Stablecoin-Powered SuperApp El Dorado Crosses 500,000 Users
El Dorado, Latin America’s leading SuperApp for stablecoin payments, has surpassed 500,000 users, marking a significant milestone in its mission to bridge the interoperability gap between stablecoins and LATAM’s top finance apps. The platform's peer-to-peer USDT marketplace has been instrumental in fostering access to digital dollars and enabling seamless cross-border payments across the region. In 2024, El Dorado P2P became the most-downloaded cryptocurrency app in Venezuela, as residents increasingly adopted Tether (USDT) as a digital dollar for everyday payments and a hedge against the country’s currency devaluation. The app also garnered over 28,000 reviews on Google’s Play Store, reflecting its growing reputation and adoption. El Dorado’s SuperApp connects stablecoins like USDT to the region’s top 70 finance apps, further enhancing financial interoperability in Latin America.
Solana Stablecoin Growth Soars by $3.13 Billion, Surpassing Ethereum
In the past week, stablecoins on the Solana blockchain saw a significant increase. According to data from Lookonchain, $USDT and $USDC on Solana increased by $3.13 billion. The rise is notable compared to Ethereum, which witnessed stablecoins surge by only $652 million during the same period. Stablecoin activity on Solana has seen much larger growth, indicating more users are interested in using the Solana blockchain for their stablecoin transactions. Ethereum also saw some growth, but it was very small in comparison.
Coinbase May Delist Tether’s USDT Due to Potential US Legislation
Coinbase CEO Brian Armstrong has indicated that the exchange would delist Tether’s USDT if compelled by new US legislation. This comes amidst ongoing regulatory challenges in the crypto space, including previous issues with the SEC and CFTC. Armstrong has also criticized the FDIC for withholding documents. Despite these challenges, Coinbase has welcomed positive regulatory changes under the new government. The potential delisting of USDT could significantly impact Tether’s operations, especially following minor setbacks from the EU’s MiCA legislation.
