USDT News: Fed Chair Supports Stablecoin Regulation, Arbitrum Introduces Infrastructure

Recent developments in the cryptocurrency world include Federal Reserve Chair Jerome Powell's affirmation of support for stablecoin regulation and Arbitrum's introduction of new infrastructure to connect USDT0 to multiple chains.

Fed Chair Powell Supports Regulatory Framework for Stablecoins

Federal Reserve Chair Jerome Powell affirmed the central bank’s support for developing a regulatory framework around stablecoins during a Senate hearing on February 11. Powell stated that clear guidelines are needed for the integration of stablecoins, suggesting their potential benefits for consumers and businesses.

Arbitrum Introduces Infrastructure to Connect USDT0 to Multiple Chains

Arbitrum, through its developer Offchain Labs, has announced the launch of Legacy Mesh, an infrastructure that will connect USDT0 to Ethereum, Tron, and Ton. This initiative aims to enhance liquidity and reduce costs for users moving USDT between different chains. USDT0, backed 1:1 with USDT, is designed to eliminate the complex bridging process and free up siloed liquidity. Steven Goldfeder, CEO of Offchain Labs, highlighted this as an important milestone for Arbitrum, ensuring access to deep and liquid markets across various blockchains.

Tether Invests in Self-Custodial Crypto Wallet Zengo

Tether Limited, the company behind the world's largest stablecoin, has announced a strategic investment in Zengo Wallet, a self-custodial crypto wallet. The move is part of Tether's broader initiative to support self-custody solutions and accelerate the global adoption of stablecoins. This investment will enable Zengo Wallet to integrate support for Tether's stablecoins on multiple leading blockchains, including Bitcoin, Ethereum, and Toncoin. Zengo Wallet offers advanced features such as integrated payment solutions, cross-chain swap capabilities, and 24/7 customer support.