USDT0 surpasses $100 billion in volume as omnichain usage accelerates
The omnichain version of Tether’s USDT stablecoin, known as USDT0, has exceeded $100 billion in total transaction volume, according to developer data, marking rapid adoption less than two years after launch. Around $4.1 billion worth of the token is currently in circulation across 23 blockchain networks, with six additional legacy connections supported through what the project calls its Legacy Mesh.
Launched in January 2025, USDT0 reached the milestone in under 530 days. The token is built on LayerZero’s Omnichain Fungible Token framework, allowing it to move across blockchains without relying on wrapped assets.
Ethereum remains dominant as network usage grows
USDT0 activity has expanded quickly, with major deployments on Arbitrum, Polygon, and the Plasma blockchain. Ethereum’s main network continues to account for the largest share of inbound and outbound bridge traffic, reflecting its role as the primary liquidity hub.
Data suggests the network is used predominantly for large-value transfers. The average transaction size exceeds $110,000, indicating the system functions more as a channel for significant capital movement than small payments.
Further insight into wallet distribution supports this trend. As of April 2026, 99.2% of wallets held less than $1,000 in USDT0, while roughly 1,200 wallets contained between $100,000 and $1 million. Only 35 wallets held more than $10 million.
Institutional and automated usage drives volumes
Broader market data reinforces the dominance of high-value activity. Blockchain analytics firm Chainalysis reported that transactions above $1 million accounted for 68% of cross-chain stablecoin volume in the first quarter of 2026.
Developers and executives say this trend is linked to increasing use by automated systems. According to Tether CEO Paolo Ardoino and USDT0 co-founder Romagnoli, stablecoins are becoming a key settlement layer for artificial intelligence-driven applications and institutional platforms. LayerZero data shows more than 250 million programmatic messages have been processed across its applications, highlighting the growth of machine-to-machine transactions.
Corn network shutdown triggers withdrawal deadline
Support for the Bitcoin-based scaling network Corn is ending, requiring traders to withdraw funds via Plasma by June 25, 2026, or face a 10% reclaim fee. The change reflects a broader consolidation toward more active networks, with development teams shifting resources away from underused ecosystems.
The Corn team has indicated it will redirect efforts toward building a crypto-enabled payment card.
Everdawn scales without venture backing
USDT0 is developed by Everdawn Labs, which also created XAUt0, an omnichain version of Tether’s gold-backed stablecoin. The company, registered in the British Virgin Islands, has not raised venture funding and operates under the territory’s Arbitration Act of 2013.
Romagnoli said Everdawn became profitable in its first quarter but did not disclose revenue figures, emphasizing a focus on long-term network security over short-term growth.
Tether backing and financial strength remain key
USDT0 is backed one-to-one by Tether’s USDT, tying its stability to one of the largest issuers in the digital asset market. Tether reported more than $5.2 billion in net profit in the first quarter of 2026, with reserves including roughly $108 billion in U.S. Treasury bills, according to its latest attestation.
Within Tether’s ecosystem, USDT0 ranks as the third-largest holder of USDT after Binance and OKX.
The combination of strong backing, high-value transaction flows, and expanding cross-chain infrastructure positions USDT0 as a key piece of the evolving stablecoin landscape, particularly as automated and institutional use cases continue to scale.
Explore how institutions use stablecoins at scale and deepen your omnichain knowledge with our guide on stablecoins in Asia today.
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