Tether launches open-source wallet development kit for humans and AI

[_act_]

Tether launched an open-source wallet development kit (WDK) which can make businesses and developers to integrate non-custodial wallets into any website or app. It is also designed to work with AI agents.

On Nov. 11, Tether announced the launch of its WDK, which it described as a modular software development kit “designed to empower businesses and developers to seamlessly integrate non-custodial wallets and user experiences for USDT and Bitcoin in any app, website, and device.”

The WDK was designed to support both human users and “embrace new digital beings like AI agents, robots and autonomous systems,” the firm said.

I guess Tether Limited did not just developed this but also wants more recognition and remain as the top stable coin issue. But did you think this is worth it? If it is open source, I think it is worth it.

[Zed0X]

I imagine the conversation among business owners to be like this:

Owner: Oh great! Now we don't have to worry about custodial wallets blocking us from accessing our account.

Also business owner: We just have to wish/hope that Tether don't freeze our USDT stored in our non-custodial wallet.

Well, at least not your key, not your wallet

[TomPluz]

Also business owner: We just have to wish/hope that Tether don't freeze our USDT stored in our non-custodial wallet.
Well, at least not your key, not your wallet

Well, that can be something that can occupy at the back of the mind of many businesspeople while dealing with USDT. Anyway, I am sure that there can be many entrepreneurs that will embrace what Tether is offering via its WDK kit. As for me, this is another move that can make cryptocurrency come easier for the mainstream population though, of course, we know that Tether is a centralized platform that may have a problem later on though we don't want to dwell a lot on that aspect for now.

[ABCbits]

To those looking for the source code, it can be found on https://github.com/tetherto/lib-wallet. Although currently it state it only support BTC and ETH blockchain. Anyway, i also think it's worth it despite it's obvious they want more wallet / service support USDT.

[NotATether]

I imagine the conversation among business owners to be like this:

Owner: Oh great! Now we don't have to worry about custodial wallets blocking us from accessing our account.

Also business owner: We just have to wish/hope that Tether don't freeze our USDT stored in our non-custodial wallet.

Well, at least not your key, not your wallet

Tether is pretty much one giant exchange. If they want to kick you off their platform, they can take your money and nobody can stop them. Best to think of them that way, and just pass up any freebies they give along the way.

[Revbit Exchanger]

This is a significant move by Tether. An open-source wallet development kit (WDK) supporting both human users and AI agents is forward-thinking and could broaden USDT and Bitcoin adoption considerably. Making it open-source is a smart strategy; it encourages community development and improves transparency, which is crucial for maintaining trust, especially for a stablecoin issuer. While increased recognition is undoubtedly a benefit for Tether, the long-term value proposition of fostering wider integration and potentially setting a new standard for wallet development likely outweighs that. It is interesting to see how the community utilizes this WDK.

[electronicash]

This is a significant move by Tether. An open-source wallet development kit (WDK) supporting both human users and AI agents is forward-thinking and could broaden USDT and Bitcoin adoption considerably. Making it open-source is a smart strategy; it encourages community development and improves transparency, which is crucial for maintaining trust, especially for a stablecoin issuer. While increased recognition is undoubtedly a benefit for Tether, the long-term value proposition of fostering wider integration and potentially setting a new standard for wallet development likely outweighs that. It is interesting to see how the community utilizes this WDK.

and suppose this is going to make people trust Tether because they are part of developing an opensource wallet?  if people can't even trust whether they have real USD to back their numbers.  they have been known to have frozen USDT to some wallets.

you wouldn't worry if its just a few hundreds or thousands. but hundred thousands in your account is going to make it frightening government can send subpoena to Tether if they are not going to ask KYC on their wallet.  this has been suggested as far as i know. using the wallet is like leaving the stablecoin in the exchange.

[yhiaali3]

This development could be beneficial for decentralized cryptocurrencies, but for USDT it won’t change the fact that it is a centralized coin that is fully controlled by Tether and can be frozen at any time even if it is in a non-custodial wallet.

I really wonder what benefits Tether will gain from launching an “open source wallet development kit (WDK) that enables businesses and developers to integrate non-custodial wallets into any website or application”? I really don’t understand why a centralized company would do such a thing?

[MrSpasybo]

This development could be beneficial for decentralized cryptocurrencies, but for USDT it won’t change the fact that it is a centralized coin that is fully controlled by Tether and can be frozen at any time even if it is in a non-custodial wallet.

I really wonder what benefits Tether will gain from launching an “open source wallet development kit (WDK) that enables businesses and developers to integrate non-custodial wallets into any website or application”? I really don’t understand why a centralized company would do such a thing?

As I understand it, WDK is a toolset that allows users to create their own wallet applications instead of having to use other wallet applications available on the market. This can provide peace of mind for businesses, as they control the code and will naturally control the keys to their accounts and crypto assets.

Unfortunately, WDK currently only supports BTC and ERC20 USDT, and other tokens are still in the process of being integrated. Besides BTC, USDT is under the sole management of Tether, so WDK also doesn't provide true security for owners against asset freezing decisions from Tether. However, this risk is still very low and businesses can actually consider using this WDK for their own purposes.

[joniboini]

I really wonder what benefits Tether will gain from launching an “open source wallet development kit (WDK) that enables businesses and developers to integrate non-custodial wallets into any website or application”? I really don’t understand why a centralized company would do such a thing?

I think brand recognition is the obvious goal for stuff like this. Most merchants will prioritize cost-saving opportunities so an easy development kit will probably attract their interest and tether will get enough publicity from that. They can spin this around to publish a PR article saying that they support open source or self-custodial apps, promote transparency, and enhance privacy or whatever they want to. It's not like they hinder their own business if they launch an open source wallet software too. CMIIW.

[yhiaali3]

I think brand recognition is the obvious goal for stuff like this. Most merchants will prioritize cost-saving opportunities so an easy development kit will probably attract their interest and tether will get enough publicity from that. They can spin this around to publish a PR article saying that they support open source or self-custodial apps, promote transparency, and enhance privacy or whatever they want to. It's not like they hinder their own business if they launch an open source wallet software too.

Your point is absolutely correct, yes it is very possible, this open source package will definitely help spread the Tether brand more widely.

This is a kind of clever propaganda where Tether is suggesting that it supports decentralization and open source wallets even though it is not, anyway whatever Tether's real intention is this is a positive step because this open source package will definitely be useful for developers and businesses.