Everdawn Labs has announced that its omnichain stablecoin, USDT0, has exceeded $50 billion in cumulative transfer volume since its launch. The Tether-pegged token has seen significant adoption across 15 different blockchain networks, with over a fifth of its total volume processed in the last month alone.

Cross-Chain Technology and Adoption

Launched in January 2025, USDT0 utilizes LayerZero’s Omnichain Fungible Token standard to create a unified representation of Tether’s dollar-pegged stablecoin on blockchains where it is not natively available. According to Everdawn Labs, the tokens are minted on each network while maintaining a 1:1 backing with Tether, ensuring value parity across different ecosystems.

The stablecoin has processed more than 415,000 transactions. Its reach extends across a diverse range of networks, including Ethereum, Arbitrum, Ink, and Sei Layer 2s, as well as Bitcoin-based layers like Corn and Rootstock. It also operates on payment-focused networks such as Conflux and Plasma, with additional support from alternative platforms like HyperLiquid and Solana.

Strategic Vision and Market Context

Everdawn Labs describes its technology as “monetary mesh infrastructure” designed to expand the utility of digital assets beyond the limitations of a single chain. The project aims to provide a robust foundation for cross-chain payments, remittances, and institutional settlements across major blockchain environments.

USDT0 is a key component of the company’s broader omnichain strategy, which also includes a version of Tether Gold. The project began as a startup within the Tether ecosystem and was first issued on INK, a Layer 2 network incubated by Kraken. The growth of USDT0 highlights increasing competition in the cross-chain digital asset space, with companies like Paxos and LayerZero also developing interoperable stablecoin solutions.