TL;DR:
- USDT0 surpassed $100 billion in transaction volume in less than 530 days since its launch in January 2025.
- The stablecoin has a circulating supply of approximately $4.1 billion and operates with native integrations across 23 different blockchains.
- Everdawn Labs, its developer, operates without venture capital funding and declared profitability from its first quarter of activity.
USDT0, the omnichain stablecoin backed 1:1 by USDT from Tether, surpassed $100 billion in transaction volume, according to the team’s blockchain data portal. The record was reached in less than 530 days since the project launched in January 2025, a pace that Lorenzo Romagnoli, co-founder of the initiative, described as the fastest in stablecoin history.
The asset was developed by Everdawn Labs under the Omnichain Fungible Token standard by LayerZero Labs, an architecture designed to enable deployment across multiple blockchain frameworks without generating wrapped versions of USDT0. It currently operates with native integrations on 23 chains and is accessible on six additional networks through its Legacy Mesh. Its main deployments include Arbitrum, Polygon and the Plasma blockchain, backed by Tether. The Ethereum base layer concentrates the highest volume of inbound and outbound bridge activity.
The Infrastructure Behind USDT0
The total circulating volume of USDT0 stands at around $4.1 billion, positioning the project as the third-largest holder of Tether globally, behind Binance and OKX. Everdawn Labs operates without external venture capital funding and declared having achieved profitability from its first quarter, although Romagnoli declined to provide specific commercial figures.
Paolo Ardoino, CEO of Tether, noted in a statement that the next step for the digital dollar involves reaching every network where demand exists, without fragmenting into versions that erode trust. Both Ardoino and Romagnoli pointed out that stablecoins will play a growing role in the agentic economy driven by artificial intelligence, where institutions and autonomous agents require a reliable dollar that operates uniformly across any network.
99.2% of wallets holding USDT0 have balances below $1,000, while only 35 wallets exceed $10 million. The average transaction size throughout the token’s history surpasses $110,000. Everdawn also launched XAUt0, an omnichain version of XAUt, Tether’s gold-backed stablecoin.
