TechFlow news, according to The Block, Paolo Ardoino, CTO of Bitfinex, said that the RGB protocol is the best choice for issuing stablecoins on Bitcoin. He believes RGB is the rightful successor to Omni following Tether's deprecation of the Omni layer.
Ardoino stated: "We believe RGB is a modern, scalable client-side smart contracting system, offering the best opportunity for token issuance on Bitcoin. Many prominent members of the Bitcoin community support RGB, and we believe it has all the right ingredients to become the legitimate successor to Omni."
RGB is a smart contract system and off-chain protocol designed for Bitcoin and the Lightning Network, enabling the issuance of Bitcoin-based digital assets. Tether has announced it will discontinue Omni but plans to reissue USDT on Bitcoin via the RGB protocol.
Tether recently stopped supporting USDT on Omni, as users have increasingly shifted toward USDT on Ethereum and Tron, leading to declining usage on the Omni layer.
Ardoino also noted that Tether is currently evaluating the timeline for issuing USDT through RGB.
Previously, on August 18, Tether's CTO said the company is actively developing RGB with Bitfinex and plans to reissue USDT on the Bitcoin RGB protocol in the future.
