What is xcUSDT ($XCUSDT)?
xcUSDT ($XCUSDT) is a Polkadot-native XCM stablecoin on Moonbeam.
The connection that brought the leading stablecoin to the Moonbeam network is powered by cross-chain integration with Statemint, a generic-assets parachain powering deployment and transfer of digital assets.
Thanks to XCM, the cross-chain messaging system by Polkadot, USDT can now be deposited on Moonbeam as an XC-20 asset and utilized like any other Moonbeam-based token.
By nature, Moonbeam Network is optimized to support cross-chain contracts, powered by XCM. This allows applications build on top of the network to simultaneously harness functionality from various blockchains, including Ethereum, Cosmos, Polkadot, and others. Now, with the addition of xcUSDT on Moonbeam, this stablecoin will be accessible to millions of users without having to switch between networks.