Tether has announced a strategic partnership with rhino.fi, a platform previously called DeversiFi that was created by Ethfinex.
The goal of this alliance is to significantly strengthen liquidity for rhino.fi’s cross-blockchain bridging service is an essential step toward advancing transactions across different cryptocurrency networks.
Rhino.fi traces its origins back to Ethfinex, an entity with close ties to Tether and its parent company Digfinex. After a buyout, Ethfinex became DeversiFi, but connections with Bitfinex remained, with the two often teaming up on blockchain initiatives. One example was integrating Tether tokens into DeversiFi’s decentralized exchange. This set the stage for enabling smooth transactions across tokens and blockchains, now rhino.fi’s mission after its rebranding.
By providing ample liquidity through Tether’s widespread USDT, rhino.fi aims to offer easy and efficient cross-chain transactions. This alliance comes as Tether faces scrutiny over USDT’s alleged role in money laundering and crypto scams. However, Tether remains a major player in stablecoins. So this partnership with rhino.fi could further solidify its central place as digital currencies evolve.
The leadership ties connecting rhino.fi and Tether highlight the interwoven personal relationships in crypto. Rhino.fi leader William Harborne has a brother, Christopher, who is a major Tether/Bitfinex shareholder. Known for his political and financial activity, Christopher Harborne has previously aided Bitfinex and Tether in overcoming banking difficulties.
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