Tether becomes one of US Treasury bills’ major holders
Tether’s CTO, Paolo Ardoino, reveals that the company bought more US Treasury bills than the United Arab Emirates, Australia, Japan, and Mexico. In a post on X (formerly Twitter), Ardoino highlights that Tether’s current hold in the US Treasury bills is $72.5 billion. While @Tether_to reached 72.5B exposure in US t- bills , being top 22 buyer globally, above United Arab Emirates, Mexico, Australia, Spain, …$USDt is the most used stablecoin in the world, with a huge focus on emerging markets. For many of these communities USDt is a lifeline… https://t.co/7hC12Nhzdq — Paolo Ardoino (@paoloardoino) September 5, 2023 In his tweet, the chief technology officer highlights the relevance of USDT in emerging markets since the stablecoin can provide communities with a “lifeline to protect themselves” against the rampant inflation in their national currencies. The stablecoins have proven to hold significant weight in the market, with $125 billion in circulation in earl...