“I cannot speak on behalf of Tether, but personally, I observe that Bitcoin is a top priority for them, and our mission is to make USDT as accessible on Bitcoin as it is on other networks,” Ihnatiuk stated.
Privacy Focus
Utexo aims to achieve this by developing an architecture for the stablecoin that offers greater confidentiality than its Ethereum or Tron counterparts.
Its RGB protocol will utilize client-side validation to keep transaction data mostly off Bitcoin’s public ledger, anchoring ownership in unspent transaction outputs (UTXOs)—the remnants of bitcoin left after transactions, akin to change from a cash purchase.
Unlike account-based models used by networks such as Ethereum and Tron, which share balance updates and transactions on public ledgers, Utexo’s architecture operates differently. By integrating RGB’s client-side validation with Bitcoin’s UTXO model, transaction details remain entirely off-chain between the involved parties, utilizing Bitcoin’s ledger only to cryptographically verify proof of ownership.
Utexo will issue USDT on Bitcoin, supplying the infrastructure for exchanges, wallet providers, and payment companies to deliver services via APIs, SDKs, and cloud solutions.
According to Utexo, there are three primary use cases: private USDT transfers; direct swaps between native BTC and USDT without routing through an exchange; and lending, where borrowers can use native bitcoin as collateral without wrapping it on another blockchain, as is required with tokens like WBTC.
