Gus – Cryptocurrency Expert
Tether (USDT) can now be used to pay transaction fees on the Kusama ecosystem, after the formal execution of the Kusama proposal 197 referendum. After USDT was registered on Statemine, a parachain based on Polkadot's Kusama network, this became feasible. USDT may now exist on Kusama accounts without the need of Kusama's KSM token.
Furthermore, using USDT on Kusama allows you additional flexibility in the transaction procedure. According to Polkassembly's website, the stablecoin will be used to power transactions on Kusama's Statemine parachain, which will be used to deploy assets and maintain track of fungible and non-fungible token balances.
According to the website, assets on Statemine might be adequate or insufficient. The Statemine account must exist on-chain in order to store a non-sufficient asset. The receiver account, on the other hand, must hold at least 3.33 microKSM, which is the Statemine account's Existential Deposit.
"If an asset is Sufficient, no Existential Deposit in KSM on the receiver account is required to open the account; the asset is sufficient in and of itself." The team (USDT) is seeking that governance vote on this property."
As indicated in the blog, many members in the Kusama network feel that a stablecoin would be beneficial. USDT can help the DeFi ecosystem grow and facilitate more transactions, particularly on DeFi-focused chains.
USDT is also working on Ethereum, Algorand, TRON, EOS, Omni, and Solana, among other blockchain networks. Tether USDT was deployed on the Kusama and Polkadot networks last month. Tether CTO Paolo Ardoino has also stated that Tether would deploy on these networks once Statemint (a Polkadot parachain) is accessible.
If you want to buy Tether, you can use cryptocurrency trading platform BC Bitcoin. Cheap cryptocurrency exchange that allows you to buy and sell cryptocurrency with ease.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
2. **Continued Operation Outside the UK:**Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.
3. **Withdrawal of Assets:**For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.
4. **Conversion of Assets:**To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing email@example.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.
5. **Withdrawal Procedure:**To initiate a withdrawal, please email your request to firstname.lastname@example.org from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at email@example.com Kind Regards