TLDR
- Tether launched an open-source wallet development kit (WDK) for integrating non-custodial wallets
- WDK supports both human users and AI agents/autonomous systems
- Initial support for Bitcoin and USDT with plans to expand
- Features include non-custodial control and simplified setup
- Tether currently has $124 billion USDT in circulation with 68% stablecoin market share
Tether, the company behind the world’s largest stablecoin, has unveiled a new open-source wallet development kit (WDK) designed to simplify the creation and integration of non-custodial crypto wallets.
The announcement came on November 11, marking a step forward in making cryptocurrency wallets more accessible to developers and businesses.
The WDK represents a modular approach to wallet development, allowing integration into any application, website, or device.
🤖 Introducing WDK by Tether: an open-source, self-custodial toolkit for developers to create Bitcoin and USD₮ wallets for humans, AI and robots. Built for a resilient future where your financial independence is in your hands.
Dive into the docs and get started!
Learn More:… pic.twitter.com/UpiV94saMr— Tether (@Tether_to) November 11, 2024
What sets this toolkit apart is its dual focus on serving both human users and artificial intelligence agents, making it one of the first development kits to specifically address the emerging intersection of AI and cryptocurrency.
Paolo Ardoino, Tether’s CEO, explained the technical foundations of the WDK on social media platform X.
He emphasized that the development libraries are “open-source, super-modular, highly scalable and battle-tested,” making them suitable for integration across various platforms.
WDK by Tether: why?
The future is unpredictable: chaos, instability, or prosperity – no one knows. But with WDK by Tether we can build programmable, open, and resilient monetary systems that connect people, machines, robots, families, communities, AI agents, societies, and even… https://t.co/fTX6qAQSNX
— Paolo Ardoino 🤖🍐 (@paoloardoino) November 11, 2024
The initial release of the WDK supports Bitcoin and Tether’s USDT stablecoin, with plans to expand functionality in the future.
Developers can implement these wallets across a broad spectrum of devices and systems, from embedded hardware to mobile applications, and from desktop software to web platforms.
One of the key features of the WDK is its focus on non-custodial solutions. This means users maintain full control over their digital assets without relying on third-party custody services, addressing common concerns about cryptocurrency security and autonomy.
The development kit includes a simplified setup process, making it more accessible for developers who might not have extensive experience with blockchain technology. This approach could help increase adoption among mainstream applications and services.
Tether’s position in the cryptocurrency market adds weight to this release. The company currently maintains a circulation of $124 billion in USDT, representing 68% of the stablecoin market according to data from CoinGecko.
This dominance places Tether well ahead of its closest competitor, Circle’s USDC, which holds a 20% market share with $37 billion in circulation.
The company’s recent activities demonstrate its ongoing growth and stability. On November 6, Tether facilitated a major transfer of more than 2 billion USDT to the Ethereum network, executed on behalf of a large exchange moving funds from cold storage.
In terms of asset backing, Tether maintains substantial reserves. In late October, Ardoino disclosed that the company holds approximately $100 billion in US Treasury securities, more than 82,000 Bitcoin, and 48 tons of gold as collateral for its stablecoin.
The new WDK supports integration across multiple blockchain networks. Currently, most USDT tokens operate on either the Tron or Ethereum networks, providing flexibility for different use cases and preferences.
The toolkit includes features for creating user interfaces, with Ardoino mentioning future plans to provide UI templates for building various non-custodial user experiences.
This addition could help standardize wallet interfaces across different platforms while maintaining customization options.
For developers interested in AI integration, the WDK includes specific functionalities designed to work with autonomous systems and robots.
This forward-looking approach suggests Tether’s recognition of the growing role of AI in financial technology.
The launch of the WDK comes at a time when demand for cryptocurrency infrastructure continues to grow. By making wallet development more accessible, Tether aims to reduce barriers to entry for businesses wanting to integrate cryptocurrency features.
Technical documentation and support resources are available to developers, providing guidance on implementing the WDK across different platforms and use cases. The open-source nature of the kit allows for community contributions and improvements.
The WDK maintains compatibility with existing blockchain standards while introducing new features for emerging technologies. This balance helps ensure both current utility and future adaptability of wallets built using the kit.
