Tether Declares Era of Fee-Free Coin Transfers...Launches 'Free Transaction Wallet' Service

▲ Tether Gold (XAUt)/AI-generated image

Tether has significantly enhanced the accessibility of USDT and Bitcoin payments by introducing its own non-custodial wallet.

According to cryptocurrency specialized media Cointelegraph on April 14 (local time), Tether launched its non-custodial wallet 'tether.wallet'. This wallet supports USDT, XAUT, USAT, and Bitcoin (BTC) issued by Tether. Tether explained that the wallet is designed to allow users to transact without holding separate network tokens or gas tokens, with fees directly deducted from the transferred assets.

The new wallet supports human-readable '@tether.me' usernames instead of long wallet addresses. Tether aims to improve user convenience through this. This launch is seen as Tether's full-scale entry into the consumer-facing wallet market. Previously, Tether laid the groundwork for integrating USDT and Bitcoin non-custodial wallets into various apps, websites, and devices by releasing an open-source wallet development kit at the end of 2024.

Tether stated that this wallet is structurally completely non-custodial. All transactions are signed directly on the user's device before being sent to the network, and private keys and recovery phrases are entirely under user control. Paolo Ardoino, CEO of Tether, said, "Over 570 million people already use Tether technology. The next step is to make that digital infrastructure more accessible and practical for end-users."

As of its launch, the wallet supports USDT and XAUT on Ethereum (ETH), Polygon (POL), Plasma, and Arbitrum (ARB) networks. USAT is initially only available on Ethereum. Bitcoin is supported on both on-chain and Lightning Network.

However, the cloud-based private key backup feature has left room for controversy. While Tether stated that users can safely back up their private keys to the cloud while retaining control, it has not been confirmed whether this feature can be disabled as of the time of writing this article. Cointelegraph reported that it has requested additional comment from Tether on this matter.

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