Tether intends to issue stablecoins on the Bitcoin network, with the RGB protocol as the foundation.

According to The Block, Bitfinex's CTO and current CEO of Tether, Paolo Ardoino, has stated that they now support the RGB protocol as the primary way to mint stablecoins on the Bitcoin network, replacing the Omni protocol previously used for issuing USDT.

What is RGB?

RGB is a layer 2 framework for Bitcoin and the Lightning Network, designed to meet the contemporary, scalable, and client-side smart contract needs, and has gained support from the Bitcoin community. With the decline of Omni, Tether has turned its attention to RGB for issuing USDT on Bitcoin in the future. At the same time, Lightning Labs has introduced Taproot assets similar to RGB, expanding the scope of issuing assets on Bitcoin.