CKUSDT Chain-key USDT Rank #3165

Chain-key USDT (CKUSDT) is a wrapped, 1:1-backed representation of Tether (USDT) issued on the Internet Computer Protocol (ICP) network. It is built using Chain-key technology, which gives the Internet Computer native cross-chain interoperability without requiring centralized bridges or custodial intermediaries. The token takes the form of a pair of canister smart contracts that interact with Ethereum through replicated HTTPS outcalls to public nodes and chain-key ECDSA (ckECDSA) signatures, a threshold-based signing scheme. This allows the contracts to read on-chain state and submit transactions directly to Ethereum. The minter and ledger pair lets users and smart contracts transfer USDT value on ICP in seconds with negligible fees and no gas charges, while still permitting redemption back to USDT on Ethereum. CKUSDT exposes the ICRC-1 and ICRC-2 ledger interfaces, the fungible token standards used on ICP, so any compatible wallet on the Internet Computer can support it. It is categorized as a fiat-backed USD stablecoin within the Internet Computer ecosystem.