Major cryptocurrency exchange Bitfinex is wanting to launch the USDT stablecoin operated by sister firm Tether on the Lightning Network (LN), crypto news outlet The Block reported on May 31st.

Per the report, Bitfinex’s chief technology officer Paolo Ardoino told the outlet that the corporate plans to launch USDT on LN later this year. To pursue this objective, the firm reportedly joined the RGB open source development project.

According to its GitHub repository, the RGB project is “an utterly free, open-source, non-profit and community-oriented effort, promoted by the BHB Network and aimed toward the event of standards and best practices to issue, transmit and store ‘Bitcoin-based non-bitcoin assets.’” The Block additionally cited Ardoino commenting on the development, saying it's “one of the best things” the firm has participated in thus far.

The company’s CTO any noted Bitfinex desires to contribute to the LN’s development. A post free by Tether in Apr 2017 shows that the corporate already had such plans for the stablecoin at the time.

As Top Market Group reported earlier in the week, Tether has proclaimed that it's partnering with Greek deity parent company Block.one to unleash its stable coin on the Eos blockchain.

As of late news poor that online networking mammoth Facebook has purportedly held chats with major United States-based crypto trades concerning the issuing of its since quite a while ago supposed stablecoin named Globalcoin.

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