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| Tether announced ownership of US Treasury bonds worth $72.5 billion |
- The USDT stablecoin issuer has become a major buyer of US bonds.
- He owns assets worth $72.5 billion.
- According to this indicator, Tether is ahead of the UAE, Mexico, Australia and other countries of the world.
Tether has become a major buyer of US Treasuries. The stablecoin issuer owns $72.5 billion in assets, Tether CTO Paolo Ardoino said.
While @Tether_to reached 72.5B exposure in US t-bills, being top 22 buyer globally, above United Arab Emirates, Mexico, Australia, Spain, ...$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
Tether's CTO noted the growing relevance of USDT in emerging markets, "providing a lifeline for communities struggling with runaway inflation in their home currencies."
Ardoino's statement is supported by news of China's decreasing influence on US Treasury debt. According to Wall Street Silver , China's focus is shifting towards gold.
The data presented makes stablecoin issuer USDT one of the top 22 holding Treasury bonds, Cryptoslate claims . At the same time, Tether is ahead of countries such as the United Arab Emirates, Mexico, Australia and Spain.
USDT continues to be the largest stablecoin by market capitalization, exceeding $82.8 billion, according to Coinmarketcap .
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| Capitalization of the USDT stablecoin. Data: Coinmarketcap |
At the end of August 2023, Tether provided an updated reserve report. In September, Paolo Ardoino said that cryptocurrency exchanges should reinvest in Bitcoin. Sources: incrypted.com
