Tether’s USDT stablecoin has reached 500 million users representing approximately 6.25% of the world’s population, according to CEO Paolo Ardoino. The milestone highlights stablecoin adoption in regions with limited banking access and currency instability, particularly in countries like Kenya where businesses use USDT to navigate local currency weakness.
Mobile payment app Oobit has expanded to the Philippines, enabling users to receive remittances as USDT and spend them instantly at major retailers. The service bridges crypto and traditional commerce for faster, cheaper cross-border payments.
Tether CEO Paolo Ardoino has reaffirmed the reliability of USDT while commenting on the instability of other depegged stablecoins, emphasizing Tether’s reserves and risk management as key differentiators.
The stablecoin market has reached a record market capitalization, led by dominant growth from USDT, USDC, and the newcomer USDe. This surge highlights increasing demand for dollar-pegged digital assets.
Ethereum has surpassed Tron in weekly USDT transfers, processing $23.7 billion compared to Tron’s $22 billion, marking the first time in over two years that Ethereum leads in stablecoin transaction volume. This shift reflects growing institutional adoption and DeFi activity driving demand for USDT transactions on the Ethereum network.
Stablecoin giant Tether is pursuing a $15-20 billion capital raise that could value the company at nearly $500 billion, rivaling OpenAI and SpaceX. The USDT issuer reported $4.9 billion in quarterly profits while planning a return to US markets.
Tether created $1 billion in new USDT tokens on Ethereum after the Federal Reserve’s interest rate reduction, potentially boosting crypto market liquidity and Ethereum-based project activity.
Tether introduces a new U.S.-compliant stablecoin, USAT, posing a direct challenge to Circle’s stronghold with USDC in the American market. Backed by stringent regulatory adherence and significant financial partners, USAT aims to reshape the competitive landscape.
Amidst soaring inflation rates hitting 229%, Venezuelans are increasingly turning to the USDt stablecoin for daily financial transactions, transitioning from the rapidly devaluing national currency, the Bolívar. This shift highlights the growing reliability of digital currencies in destabilized economic climates.
Tether has abandoned its initial plan to freeze USDT on older networks like Bitcoin Cash, EOS, Algorand, and Kusama, choosing instead to classify them as “unsupported.” This approach avoids user backlash while allowing Tether to refocus on high-volume platforms such as Ethereum and Tron.
